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US natural gas futures fell on a milder February outlook after spot prices surged during holiday-weekend cold. The Nymex front month was down 3.6% at $3.807/MMBtu.
Analysts said freeze-offs were smaller than feared, allowing physical prices to retreat.
Expected milder heating demand reduces near-term gas burn and pressures energy input costs for feed producers, such as those using gas-fired drying and processing. Lower gas prices can also weigh on ethanol-linked DDGS economics.
wsj.com2025年1月21日在过去 104 次看跌的天气事件之后，天然气 在 5 个交易日内中位数变动 -7.8%（22% 上涨；中间一半区间为 -14.8% 至 -0.8%），20 个交易日内为 -3.3%。
各商品基准价相对事件前最后收盘价的变动。历史数据汇总同类过往事件；仅描述已发生的情况，不代表未来走势。不构成投资建议。
Milder February outlook and smaller-than-feared freeze-offs cut heating demand expectations and eased physical prices, driving the front-month lower on the day.
A milder February outlook and smaller-than-feared freeze-offs let futures fall as the cold-driven premium faded.
