# Natural Gas Forward Prices Decline as Traders Assess Enzo Impacts

> Natural gas forward prices declined across the board from January 16 to 22 as traders looked past the cold snap to an adequately supplied market. February prompt prices fell by an average of 53.2 cents, with Rockies and Northwest hubs leading the drop. Freeze-offs peaked at 8.9 Bcf during Winter Storm Enzo, about half the scale of January 2024's losses.

- Date: 2025-01-23 · published 2025-01-23T12:00:00.000Z
- Category: weather · region US · magnitude low
- Page: https://feedsoft.ai/events/6346-natural-gas-forward-prices-decline-as-traders-assess-enzo-impacts
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Forward curve weakness signals the market expects adequate supply through winter and summer, which keeps forward energy costs contained for feed mills. The limited freeze-off losses reinforce that outlook.

## Read by commodity

- NATGAS: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| NATGAS | 2025-01-27 | 5 | -40.6% | -4.9 | Forward prices fell as traders looked past the cold snap to an adequately supplied market, with freeze-offs about half the 2024 scale, which eased supply-risk premium. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2026-01-08 | [Natural Gas Forward Prices Slump as Mother Nature Fails to Impress](https://feedsoft.ai/events/8587-natural-gas-forward-prices-slump-as-mother-nature-fails-to-impress.md) | -5.5% | +30.2% |
| NATGAS | 2016-10-31 | [Natural Gas Prices Edge Lower as Traders Weigh Storage Volumes, Demand - WSJ](https://feedsoft.ai/events/9174-natural-gas-prices-edge-lower-as-traders-weigh-storage-volumes-demand-wsj.md) | -15.1% | +0.4% |
| NATGAS | 2023-01-03 | [Europe Natural Gas Prices Decline as Persistent Mild Weather Curbs Demand - Bloomberg](https://feedsoft.ai/events/9185-europe-natural-gas-prices-decline-as-persistent-mild-weather-curbs-demand.md) | -4.8% | -32.8% |
| NATGAS | 2020-02-06 | [U.S. Natural Gas Prices Dip To Four-Year Lows](https://feedsoft.ai/events/54773-u-s-natural-gas-prices-dip-to-four-year-lows.md) | +0.1% | -2.4% |
| NATGAS | 2023-11-29 | [US natural gas prices slide - Markets - Business Recorder](https://feedsoft.ai/events/33342-us-natural-gas-prices-slide-markets-business-recorder.md) | -1.0% | -4.3% |

## Sources

- naturalgasintel.com: https://naturalgasintel.com/news/natural-gas-forward-prices-decline-as-traders-assess-enzo-impacts/

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