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US natural gas prices rallied about 29% to $6.80/MMBtu on January 26 after a severe winter storm cut output. Early signs of production recovery in the Permian suggest the price spike may have peaked.
US LNG plants also cut gas intake sharply, reducing exports to Europe.
The rally was driven by a temporary supply shock, and an output recovery would ease the price pressure. Lower US gas prices would reduce energy and fertilizer cost pressure for feed producers.
think.ing.comWarren Patterson, Ewa MantheyJan 27, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
