# Natural Gas Is Trading Like The Winter Is Over

> Henry Hub February futures fell from $3.99 to $3.42/mmBtu in a week, and March contracts closed below $2.85. Bearish heating demand revisions for the first two weeks of January were projected to add roughly 300 Bcf to storage. The analysis projects end-of-season storage near 1.85 Tcf under normal weather.

- Date: 2026-01-07 · published 2026-01-07T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/7833-natural-gas-is-trading-like-the-winter-is-over
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Heavier storage builds and lower heating demand expectations push forward curves lower, and a bearish February outlook could push end-of-season storage above 2 Tcf. That keeps downside pressure on prices.

## Read by commodity

- NATGAS: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| NATGAS | 2026-01-06 | 5 | -31.6% | -3.8 | Analysis of bearish demand revisions adding about 300 Bcf to storage explains the market pricing in a mild winter, though it is dated slightly after the window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2017-01-03 | [There is something about natural gas in January](https://feedsoft.ai/events/11913-there-is-something-about-natural-gas-in-january.md) | -16.0% | -13.2% |
| NATGAS | 2016-11-03 | [Natural Gas Bears Take Over the Market - Burton Energy Group](https://feedsoft.ai/events/9175-natural-gas-bears-take-over-the-market-burton-energy-group.md) | -8.1% | +25.5% |
| NATGAS | 2022-02-07 | [Natural Gas ETFs Plunge on Warming Weather, But Russia Is a Wild Card](https://feedsoft.ai/events/8465-natural-gas-etfs-plunge-on-warming-weather-but-russia-is-a-wild-card.md) | -19.2% | -1.2% |
| 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 | 2018-02-01 | [Mild Weather Dims Natural Gas ETF Outlook](https://feedsoft.ai/events/7447-mild-weather-dims-natural-gas-etf-outlook.md) | -14.0% | -15.1% |

## Sources

- hfir.com: https://www.hfir.com/p/natural-gas-is-trading-like-the-winter

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