# UPDATE 1-US natgas prices up 3% to 7-week high on extreme cold forecasts

> US natural gas futures gained about 3% to a seven-week high on lower output and forecasts of extremely cold weather. The February contract settled at $2.980/MMBtu, its highest since Nov. 16.

- Date: 2024-01-08 · published 2024-01-08T12:00:00.000Z
- Category: weather · region US · magnitude low
- Page: https://feedsoft.ai/events/4190-update-1-us-natgas-prices-up-3-to-7-week-high-on-extreme-cold-forecasts
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Cold forecasts and lower output support near-term gas prices, which raises energy and fertilizer input costs for feed producers.

## 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 | The prior session's 3% rise to a seven-week high on extreme cold forecasts and lower output set up the momentum and price level for the 2024-01-09 jump. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2023-08-31 | [US natgas prices rise 2% to 3-week high on hot forecasts, output decline - Markets - Business Recorder](https://feedsoft.ai/events/34749-us-natgas-prices-rise-2-to-3-week-high-on-hot-forecasts-output-decline-markets.md) | -4.5% | +7.9% |
| NATGAS | 2022-07-18 | [U.S. natgas futures jump 7% to 5-week high on hotter forecasts \| Reuters](https://feedsoft.ai/events/40666-u-s-natgas-futures-jump-7-to-5-week-high-on-hotter-forecasts-reuters.md) | +21.6% | +28.6% |
| NATGAS | 2025-01-11 | [US natural gas prices soar to two-year high on colder forecasts - Markets - Business Recorder](https://feedsoft.ai/events/26699-us-natural-gas-prices-soar-to-two-year-high-on-colder-forecasts-markets.md) | +53.7% | -14.7% |
| NATGAS | 2018-11-06 | [Natural gas prices surge on surprise forecast for cold US weather](https://feedsoft.ai/events/6487-natural-gas-prices-surge-on-surprise-forecast-for-cold-us-weather.md) | +9.1% | +24.8% |
| NATGAS | 2024-04-29 | [Nat-Gas Prices Jump on Forecasts for Warm US Temps](https://feedsoft.ai/events/9863-nat-gas-prices-jump-on-forecasts-for-warm-us-temps.md) | +25.8% | +57.3% |

## Sources

- finance.yahoo.com: https://finance.yahoo.com/news/1-us-natgas-prices-3-195851212.html

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