# U.S. natgas sinks nearly 11% to 1-year trough on low storage draw, warm weather forecasts | Financial Post

> U.S. natural gas futures fell close to 11% to a one-year low after the EIA reported a 221 bcf storage withdrawal for the week ended Dec. 30, smaller than the 228 bcf analysts expected. Forecasts for warmer-than-normal weather through late January pointed to low heating demand.

- Date: 2023-01-05 · published 2023-01-05T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/9182-u-s-natgas-sinks-nearly-11-to-1-year-trough-on-low-storage-draw-warm-weather
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Warm weather and smaller-than-expected draws mean utilities can keep more gas in storage, reducing winter demand and pressuring natural gas prices lower. Lower gas prices weigh on power and fertilizer costs and reduce competition for feed-related energy inputs.

## Read by commodity

- NATGAS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2022-02-07 | [U.S. natgas futures drop 6% on forecasts for less cold, rising output \| Financial Post](https://feedsoft.ai/events/8458-u-s-natgas-futures-drop-6-on-forecasts-for-less-cold-rising-output-financial.md) | -19.2% | -1.2% |
| NATGAS | 2019-12-23 | [U.S. natgas futures down nearly 5% on warmer weather forecasts - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/7844-u-s-natgas-futures-down-nearly-5-on-warmer-weather-forecasts-energy-news-top.md) | -7.7% | -17.5% |
| NATGAS | 2022-02-10 | [Natural Gas Edges Lower on Warm Weather Forecast \| FXEmpire](https://feedsoft.ai/events/8464-natural-gas-edges-lower-on-warm-weather-forecast-fxempire.md) | +11.8% | +14.0% |
| NATGAS | 2024-10-14 | [Nat-Gas Prices Tumble as US Weather Forecasts Warm](https://feedsoft.ai/events/10301-nat-gas-prices-tumble-as-us-weather-forecasts-warm.md) | -17.8% | -27.1% |
| NATGAS | 2025-01-17 | [US NatGas Prices Drop 5% From 2-Year High on Milder Late Jan Weather Forecasts - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/6344-us-natgas-prices-drop-5-from-2-year-high-on-milder-late-jan-weather-forecasts.md) | -8.1% | -3.3% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/u-s-natgas-sinks-nearly-11-to-1-year-trough-on-low-storage-draw-warm-weather-forecasts

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