# Modest Storage Draw Fails to Stop Natural Gas Futures Price Rally; West Coast Cash North of $30/MMBtu

> U.S. natural gas futures settled above $6 after forecasts pointed to colder weather arriving the following week, despite a modest storage draw. West Coast spot prices surged, with some California points reaching as high as $36 and NGI's national spot average jumping sharply. Weather models showed a frigid pattern for December 16 to 22.

- Date: 2022-12-08 · published 2022-12-08T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/11511-modest-storage-draw-fails-to-stop-natural-gas-futures-price-rally-west-coast
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Expected cold across the Lower 48 raises heating demand and supports futures prices. Spot price strength on the West Coast signals tight regional supply that can keep national prices elevated.

## Read by commodity

- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2022-12-09 | [Perfect Storm Fuels Massive Natural Gas Price Spikes on West Coast; Northern California Hits $55/MMBtu](https://feedsoft.ai/events/11512-perfect-storm-fuels-massive-natural-gas-price-spikes-on-west-coast-northern.md) | +28.8% | -29.3% |
| NATGAS | 2018-12-04 | [Weather, low storage, drive up the price of natural gas \| AP News](https://feedsoft.ai/events/61742-weather-low-storage-drive-up-the-price-of-natural-gas-ap-news.md) | +4.0% | -29.0% |
| NATGAS | 2024-09-27 | [Prompt Month Natural Gas Futures Jump Toward $3 as Cash Shrugs Off Helene Demand Destruction](https://feedsoft.ai/events/28493-prompt-month-natural-gas-futures-jump-toward-3-as-cash-shrugs-off-helene-demand.md) | +9.4% | -13.2% |
| NATGAS | 2025-07-24 | [US natural gas prices climb on heat forecast, smaller storage build](https://feedsoft.ai/events/23959-us-natural-gas-prices-climb-on-heat-forecast-smaller-storage-build.md) | -2.1% | -9.8% |
| NATGAS | 2023-07-26 | [Natural Gas Futures, Cash Prices Advance Alongside Soaring Temperatures](https://feedsoft.ai/events/35228-natural-gas-futures-cash-prices-advance-alongside-soaring-temperatures.md) | -6.3% | -4.6% |

## Sources

- naturalgasintel.com: https://naturalgasintel.com/news/modest-storage-draw-fails-to-stop-natural-gas-futures-price-rally-west-coast-cash-north-of-30mmbtu/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.