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Spot natural gas prices fell sharply as a warmer outlook reduced expected demand, particularly in the Northeast. NGI's national average dropped $1.315 to $2.660/mmBtu.
Wood Mackenzie projected East demand falling to 32.9 Bcf/d from 42.4 Bcf/d, and Waha prices slid further into negative territory.
A sharp drop in forecast regional demand weighs on cash gas prices and widens regional basis discounts. Lower cash prices signal weaker near-term balances.
naturalgasintel.comJodi ShaftoJan 5, 2026After 104 past bearish weather events, Natural Gas moved a median -7.8% over 5 sessions (22% higher; middle half -14.8% to -0.8%), and -3.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Spot prices collapsed as milder Northeast outlook cut expected demand, reinforcing the futures sell-off.
