New York, Feb 9, 2026, 13:58 EST — Regular session
- NYMEX March Henry Hub natural gas slid nearly 8%, landing at roughly $3.14 per million British thermal units (mmBtu). 1
- The United States Natural Gas Fund (UNG), which tracks gas prices, dropped roughly 8%. Shares of EQT, the gas producer, were off by less than 1%.
- Cheniere Energy, the LNG exporter, ticked up. Kinder Morgan, which operates pipelines, also gained in New York trading.
Natural gas prices in the U.S. dropped hard on Monday, hitting gas-linked funds and dragging on producers, with traders betting on a warmer stretch through mid-February.
That’s key at this point, since winter demand plays a big role in shaping the market. The U.S. benchmark tends to move not on news, but on how much gas gets burned by homes and power stations.
The National Weather Service’s Climate Prediction Center, in its most recent 6–10 day outlook, said the chances for above-normal temperatures are “enhanced … across most of the CONUS to the Atlantic Coast” for Feb. 14–18—a pattern that tends to cut into space-heating needs. Forecasters also noted they have higher-than-usual confidence in this projection. 2
Natural gas finds itself in a tricky position as the season rolls in. Storage numbers, daily consumption patterns, and pipeline bottlenecks are calling the shots. All it takes is a minor tweak in weather forecasts to jolt prices sharply one way or the other.
Futures tumbled, and gas-tracking funds felt it almost immediately. Shares of UNG, which is loaded up on natural gas futures, mirrored the slump. A few producers exposed to gas also slipped.
Not all U.S. gas-linked stocks tracked the drop in the commodity. Some, especially those with hefty fee-based pipeline operations or locked-in long-term LNG deals, often move more with the wider equity market than with daily Henry Hub price action.
For bears, the familiar winter hazard remains: forecasts can turn on a dime. A sudden cold spell or unexpected supply hiccup can quickly tighten conditions, sending prices jumping even before the fundamentals have a chance to catch up on paper.
This week, traders are watching to see if the warmer pattern holds and waiting for the next U.S. government storage data to get a read on late-winter gas inventories. The Energy Information Administration puts out its weekly storage figures Thursdays at 10:30 a.m. Eastern. 3
