NEW YORK, December 29, 2025, 5:17 PM ET — After-hours
- United States Natural Gas Fund (UNG) rose about 1.9% in after-hours trade; BOIL gained about 2.4% while inverse fund KOLD fell about 2.5%.
- NYMEX front-month natural gas futures rose about 2.2% to $4.46 per mmBtu on colder forecasts and record LNG feedgas flows.
- EIA reported a 166 billion cubic feet storage withdrawal, taking U.S. inventories to 3,413 Bcf for the week ended Dec. 19.
U.S. natural gas-linked funds rose in after-hours stock trading on Monday, tracking a firming in natural gas prices after a colder weather outlook and a government report showing a sizable storage withdrawal.
Why it matters now: winter gas trading is dominated by weather-driven demand and storage swings, and both can move quickly when forecasts change. Investors in gas ETFs and gas-heavy producers are watching whether early-season withdrawals keep inventories tight.
The latest price action is also being shaped by liquefied natural gas (LNG) exports, which pull U.S. supply into global markets. Record feedgas flows to U.S. export plants can tighten domestic balances even when production is high.
The U.S. Energy Information Administration said working gas in storage fell by 166 billion cubic feet (Bcf) to 3,413 Bcf for the week ending Dec. 19. Stocks were 129 Bcf below the year-ago level and 24 Bcf below the five-year average, the agency said.
Front-month natural gas futures for January delivery on the New York Mercantile Exchange rose 9.4 cents, or 2.2%, to $4.46 per million British thermal units (mmBtu), a standard energy unit used for gas pricing. February futures were up 0.8% at $3.91, according to the same report.
Meteorologists forecast a slight drop in temperatures nationwide through Jan. 12, with heating degree days (a measure of how much heating demand cold weather creates) rising to 412 on Monday from 398 on Friday, the report said.
LNG demand remained a focal point. Average gas flows to the eight large U.S. LNG export plants rose to 18.5 billion cubic feet per day (bcfd) so far this month, with daily feedgas set to reach 18.8 bcfd on Monday, LSEG data showed.
“Forecasts are turning back colder a little bit and with this wicked winter weather, people are starting to buy,” said Phil Flynn, senior analyst at Price Futures Group. Hellenic Shipping News
Supply has been running strong. LSEG pegged average Lower 48 output at a record 110.1 bcfd in December and projected average demand, including exports, easing from 138.4 bcfd this week to 135.8 bcfd next week.
In equity and ETF trading, UNG—an exchange-traded fund that tracks near-dated NYMEX natural gas futures—was up 1.9% at $13.05. Leveraged ProShares Ultra Bloomberg Natural Gas (BOIL) rose 2.4%, while the inverse ProShares UltraShort Bloomberg Natural Gas (KOLD) fell 2.5%, reflecting the day’s climb in gas prices.
Gas-sensitive energy names were mixed in late trading. U.S. producer EQT was up 1.2% at $54.54, while LNG exporter Cheniere Energy rose 1.7% to $192.60.
Next up for traders is whether colder forecasts translate into sustained withdrawals above seasonal norms and whether high LNG feedgas persists into early January without disrupting production. The EIA’s next weekly storage report is due Dec. 31, keeping attention on inventories and weather model updates heading into the new year.
