# Winter weather set to narrow US gas storage surplus as NYMEX nears $3

> Frigid weather was forecast to drive a sharp rise in US heating demand over the coming weeks. The gas storage surplus could narrow by triple digits in Bcf, and prompt futures were up about 42 cents on the year.

- Date: 2024-01-08 · published 2024-01-08T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/4185-winter-weather-set-to-narrow-us-gas-storage-surplus-as-nymex-nears-3
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

A faster drawdown of the storage surplus shifts the balance of winter supply and supports higher gas prices.

## Read by commodity

- NATGAS: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| NATGAS | 2024-01-09 | 1 | +13.1% | 3.0 | Forecasts of frigid weather and a narrowing storage surplus raised demand expectations just before the move, which supported the bullish sentiment. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2026-05-28 | [Nat-Gas Prices Surge as Storage Tightens and US Weather Turns Hotter](https://feedsoft.ai/events/19436-nat-gas-prices-surge-as-storage-tightens-and-us-weather-turns-hotter.md) | +0.2% | +6.2% |
| 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 | 2018-11-13 | [Henry Hub Tops $4/MMBtu as Natural Gas Markets React to Early Winter Cold, Lean Storage](https://feedsoft.ai/events/9433-henry-hub-tops-4-mmbtu-as-natural-gas-markets-react-to-early-winter-cold-lean.md) | +20.7% | +15.4% |
| NATGAS | 2024-11-11 | [Nat-Gas Prices Surge on Lower US Gas Output and Colder US Weather](https://feedsoft.ai/events/7027-nat-gas-prices-surge-on-lower-us-gas-output-and-colder-us-weather.md) | +20.1% | +73.4% |
| NATGAS | 2022-04-05 | [US Henry Hub gas futures top $6 as wintry weather, supply concerns linger](https://feedsoft.ai/events/42051-us-henry-hub-gas-futures-top-6-as-wintry-weather-supply-concerns-linger.md) | +13.6% | +38.2% |

## Sources

- spglobal.com: https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/natural-gas/010824-winter-weather-set-to-narrow-us-gas-storage-surplus-as-nymex-nears-3

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