# Warm January Outlook Sends Natural Gas ETFs Reeling

> Natural gas futures fell 10% to $3.352 per mmBtu, their worst day in almost two years, after forecasts for a mild January. Gas-linked ETFs such as UNG fell about 11%, and inverse products rallied.

- Date: 2017-01-03 · published 2017-01-03T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/11911-warm-january-outlook-sends-natural-gas-etfs-reeling
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Mild January forecasts reduce heating demand expectations, pushing spot and futures prices lower.

## Read by commodity

- NATGAS: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| NATGAS | 2017-01-03 | 1 | -9.4% | -3.1 | Reports the ~10% drop on Jan 3 driven by mild January forecasts that cut expected heating demand, which matches the timing and size of the move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2018-02-01 | [Mild Weather Dims Natural Gas ETF Outlook](https://feedsoft.ai/events/7447-mild-weather-dims-natural-gas-etf-outlook.md) | -14.0% | -15.1% |
| NATGAS | 2017-01-03 | [There is something about natural gas in January](https://feedsoft.ai/events/11913-there-is-something-about-natural-gas-in-january.md) | -16.0% | -13.2% |
| NATGAS | 2026-01-05 | [U.S. Natural Gas Extends Losses on Milder Weather Outlook - WSJ](https://feedsoft.ai/events/7828-u-s-natural-gas-extends-losses-on-milder-weather-outlook-wsj.md) | -20.7% | -0.8% |
| NATGAS | 2025-01-21 | [U.S. Natural Gas Futures Fall on Milder February Outlook - WSJ](https://feedsoft.ai/events/6343-u-s-natural-gas-futures-fall-on-milder-february-outlook-wsj.md) | -40.6% | -18.8% |
| NATGAS | 2016-10-24 | [Unseasonable Warmth Pressures Natural Gas ETFs](https://feedsoft.ai/events/10118-unseasonable-warmth-pressures-natural-gas-etfs.md) | -1.7% | -8.0% |

## Sources

- etftrends.com: https://www.etftrends.com/2017/01/warm-january-outlook-sends-natural-gas-etfs-reeling/

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