New York, Jan 17, 2026, 13:10 (EST) — Market closed.
- Natural gas futures slipped, staying near $3 as trading winds down ahead of the MLK Day holiday schedule.
- Storage levels and weather continue to dominate the near-term outlook, while LNG exports remain a crucial swing factor.
- The next hurdle comes with Thursday’s federal storage report and the latest temperature forecasts for late January.
U.S. Henry Hub natural gas futures closed Friday at $3.103 per million British thermal units (mmBtu), slipping 2.5 cents, or 0.8%, from Thursday’s finish. Leveraged ETFs tied to gas mirrored the move: ProShares Ultra Bloomberg Natural Gas (BOIL) gained 1.8%, while ProShares UltraShort Bloomberg Natural Gas (KOLD) dropped roughly 2.0%. (Investing)
The market heads into Sunday’s reopen with very little margin for mistakes. January rallies have been met with swift selling, yet short positions risk getting caught if weather models turn colder for a stretch.
Federal data released Friday showed working gas in storage at 3,185 billion cubic feet (Bcf) as of Jan. 9, marking a net withdrawal of 71 Bcf from the previous week. (Bcf measures volume; larger pulls often indicate tougher winter heating demand.) (U.S. Energy Information Administration)
A Reuters report, referencing LSEG data, noted traders expect a “smaller-than-usual” storage withdrawal. The reason: mild weather has kept heating demand low, even as production and LNG flows remain high. According to LSEG, Lower 48 output hit 109.1 billion cubic feet per day (bcfd) so far this January. Meanwhile, feedgas to the eight major U.S. LNG export plants averaged 18.5 bcfd, despite disruptions like the one at Freeport’s Texas facility. (Hellenic Shipping News)
The Energy Information Administration highlighted a familiar tension: inventories are still above recent averages, but export demand remains strong. Between Jan. 8 and Jan. 15, 33 LNG vessels left U.S. ports, carrying a total of 127 Bcf of LNG. The gas rig count stood at 124 as of Jan. 6. EIA’s latest data also showed mixed international benchmarks, with Dutch TTF averaging $10.22/mmBtu for the week, while East Asia LNG front-month futures came in at $9.59/mmBtu. (U.S. Energy Information Administration)
Global gas pricing is coming back into focus, particularly as colder weather threatens to squeeze the LNG market. “The weather outlook across Northeast Asia and Europe has turned colder week-on-week, tightening market fundamentals and driving a rebound in spot LNG prices,” said Kesher Sumeet, senior LNG analyst at Energy Aspects. (Reuters)
Mitsubishi Corp announced plans to acquire U.S. shale gas and related infrastructure from Aethon Energy Management, valuing the deal at about $7.53 billion. The assets, located in the Haynesville Shale, produce approximately 2.1 billion cubic feet per day (bcfd) of natural gas—roughly equal to 15 million tonnes of LNG annually. (Investing)
The upcoming session comes with a holiday twist. U.S. stock markets will be closed Monday for Martin Luther King Jr. Day. Energy futures are scheduled to open Sunday at 5:00 p.m. CT, pause Monday at 1:30 p.m. CT, then resume trading at 5:00 p.m. CT, per an exchange-hours notice. (EdgeClear)
CME’s holiday settlement schedule is crucial for anyone valuing books on official prices: no settlement prices will be released on Monday, Jan. 19. (CME Group)
The setup works both ways. Should the weather cool less than expected and storage withdrawals remain modest, $3.00 will resurface as a key level that could crack, particularly with ongoing regional bottlenecks showing up in cash markets. On the other hand, if colder temperatures stick around and LNG feedgas bounces back sharply after outages, shorts could face a quick squeeze.
Traders are zeroing in on a few clear indicators: early-week weather model updates, LNG plant outputs, and pipeline bottlenecks. After that, all eyes turn to the storage report due Thursday, Jan. 22.
