US Natgas Prices Fall After Smaller-Than-Expected Storage Draw

2026-02-05 16:38 By Agna Gabriel 1 min. read

US natural gas futures fell more than 2% to $3.39 per MMBtu on Thursday after a record storage withdrawal came in smaller than expected and warmer weather forecasts reduced demand concerns.

The EIA reported a record 360 bcf draw for the week to January 30, above last year and the five year average but below forecasts for a 374 bcf decline, easing fears of tighter supply.

Prices were also pressured by expectations for milder temperatures and lower heating demand over the next two weeks after last week’s Arctic blast.

Production has begun to recover, with Lower 48 output rising to about 106.6 bcfd in early February from January levels.

Storage fell sharply after the cold snap and is now about 1% below seasonal norms, compared with 5% above normal a week earlier.

Meanwhile, LNG export flows have strengthened to 18.4 bcfd in February, close to record highs.



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