# US natgas futures drop in quiet trade; frigid weather drives up spot rates | BOE Report

> US natural gas futures dropped to a near one-week low in holiday-thinned trade on forecasts of less cold weather from late January. Spot rates climbed on frigid conditions across most of the US that boosted heating demand. The February contract fell 15.2 cents, or 3.8%, to $3.80/MMBtu.

- Date: 2025-01-20 · published 2025-01-20T12:00:00.000Z
- Category: weather · region US · magnitude low
- Page: https://feedsoft.ai/events/6348-us-natgas-futures-drop-in-quiet-trade-frigid-weather-drives-up-spot-rates-boe
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Divergence between falling futures and rising spot gas reflects near-term cold-driven demand against a milder longer-term outlook. Feed buyers face volatile energy costs, with lower futures providing some relief if warming holds.

## Read by commodity

- NATGAS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2022-02-11 | [U.S. natgas futures slide to 3-week low on jump in output \| BOE Report](https://feedsoft.ai/events/8460-u-s-natgas-futures-slide-to-3-week-low-on-jump-in-output-boe-report.md) | +13.4% | +19.1% |
| NATGAS | 2026-01-06 | [US natgas futures slide 5% to 10-week low as mild winter weather curbs demand](https://feedsoft.ai/events/7829-us-natgas-futures-slide-5-to-10-week-low-as-mild-winter-weather-curbs-demand.md) | -0.2% | +17.0% |
| NATGAS | 2023-11-06 | [US natgas prices drop 7% on record output, mild weather](https://feedsoft.ai/events/6385-us-natgas-prices-drop-7-on-record-output-mild-weather.md) | -11.7% | -16.2% |
| NATGAS | 2020-11-03 | [US natural gas futures fall on milder weather - Markets - Business Recorder](https://feedsoft.ai/events/50350-us-natural-gas-futures-fall-on-milder-weather-markets-business-recorder.md) | -12.5% | -8.0% |
| NATGAS | 2026-01-02 | [US natural gas futures start year lower on mild weather outlook](https://feedsoft.ai/events/7832-us-natural-gas-futures-start-year-lower-on-mild-weather-outlook.md) | -17.9% | +45.6% |

## Sources

- boereport.com: https://boereport.com/2025/01/20/us-natgas-futures-drop-in-quiet-trade-frigid-weather-drives-up-spot-rates/

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