# Why Natural Gas Prices Just Tanked | OilPrice.com

> The February NYMEX natural gas contract expired at $3.63 per MMBtu, and March gas fell below $2.90 as forecasts shifted to less extreme cold. The EIA reported a 99 Bcf storage withdrawal, well below the five-year average of 164 Bcf, but the outlook still turned bearish.

- Date: 2018-02-01 · published 2018-02-01T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/7448-why-natural-gas-prices-just-tanked-oilprice-com
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Warmer forecasts and a smaller-than-expected storage draw reduce near-term demand, pushing prices lower. Lower natural gas prices reduce energy costs for feed processing, though storage remains 16% below the five-year average.

## Read by commodity

- NATGAS: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| NATGAS | 2018-02-05 | 5 | -22.6% | -4.3 | Forecasts shifted to less extreme cold and March gas fell below $2.90, while a storage withdrawal well below the five-year average added to the bearish sentiment during the decline. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2019-11-30 | [Natural Gas Prices Crash On Warm Weather Warnings \| OilPrice.com](https://feedsoft.ai/events/56244-natural-gas-prices-crash-on-warm-weather-warnings-oilprice-com.md) | -2.0% | -10.4% |
| NATGAS | 2017-01-03 | [The End Of The Rally? Oil Reverses, Natural Gas Trounced \| OilPrice.com](https://feedsoft.ai/events/11916-the-end-of-the-rally-oil-reverses-natural-gas-trounced-oilprice-com.md) | -16.0% | -13.2% |
| NATGAS | 2026-01-05 | [Why Natural Gas Prices Are Slipping Despite Strong LNG Demand](https://feedsoft.ai/events/7834-why-natural-gas-prices-are-slipping-despite-strong-lng-demand.md) | -20.7% | -0.8% |
| NATGAS | 2024-01-16 | [Natural Gas Prices Give Back Pre-Storm Gains](https://feedsoft.ai/events/32298-natural-gas-prices-give-back-pre-storm-gains.md) | -63.9% | -73.3% |
| 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% |

## Sources

- oilprice.com: https://oilprice.com/Energy/Gas-Prices/Why-Natural-Gas-Prices-Just-Tanked.html

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