New York, January 14, 2026, 14:11 EST — Regular session
- EQT dropped roughly 3% after U.S. gas futures tumbled, dragged down by reduced flows to LNG export facilities in Texas.
- Antero and Range slipped, but Coterra managed a slight gain.
- Traders are focused on Thursday’s U.S. storage report and if LNG feedgas picks up again amid the colder weather.
EQT Corp shares dropped roughly 3% Wednesday, dragged down by falling U.S. natural gas prices. The move weighed on the broader sector as the largest U.S. natural gas producer took a hit.
This month, gas-linked stocks have been tossed about by shifting winter forecasts and volatile liquefied natural gas demand. When feedgas—the volume of gas entering LNG plants—falls, price expectations often take a quick hit, dragging producers’ shares along with the front-month contract.
EQT dropped roughly 3.0% to $50.03 in afternoon trading. Antero Resources slipped around 1.9%, and Range Resources edged down about 0.3%. Coterra Energy, however, ticked up approximately 0.4%.
U.S. natural gas futures for February slipped 23 cents, down 6.7%, settling at $3.189 per million British thermal units (mmBtu). The drop came as early data showed feedgas flows into LNG export plants in Texas declining, with Freeport LNG and Cheniere Energy’s Corpus Christi terminal both experiencing reduced volumes.
LSEG data indicated Lower 48 output hovered near 107.4 billion cubic feet per day on Wednesday. Demand, including exports, is set to climb next week as forecasters predict colder-than-normal temperatures, with the coldest period expected between Jan. 17-21.
Cash prices at the Waha Hub in West Texas remained below zero once more, underscoring how pipeline constraints continue to strangle Permian gas despite stronger national benchmarks.
The Energy Information Administration projects Henry Hub, the U.S. benchmark in Louisiana, will drop roughly 2% this year to just below $3.50/mmBtu. It then forecasts a steep climb in 2027, reaching nearly $4.60 as demand for LNG exports outpaces supply.
The EIA’s newest short-term forecast predicts U.S. power consumption will hit record levels in 2026 and 2027, driven largely by data center demand. At the same time, the agency expects natural gas to account for a slightly smaller slice of the generation mix.
Morgan Stanley analyst Devin McDermott said the drop in gas prices has gone “too far.” The bank’s 2026 Henry Hub forecast remains above the futures strip, arguing the current curve is “too low to drive supply growth the market needs.” Investing.com Nigeria
For now, the focus remains on weather and plant flows. If outages drag on or LNG demand softens, the market could be stuck with elevated output and a storage surplus larger than anticipated heading into late winter.
Thursday brings the weekly natural gas storage report from the EIA, scheduled for 10:30 a.m. Eastern. Alongside it come daily LNG feedgas figures and fresh forecasts as the Jan. 17-21 cold stretch approaches.
