Natural Gas - Henry Hub Prices

29-01-2026 - Over the past month, the price of natural gas (Henry Hub) has experienced a significant surge, climbing from $4.687 to $7.46 per mmbtu. This sharp increase underscores heightened market volatility and potential imbalances in supply and demand for this essential raw material. The forecast for natural gas (Henry Hub) is $7.143/mmbtu, reflecting a 4.2% decrease from the current price of $7.46/mmbtu, suggesting a general downward trend. However, this forecast is marked by potential market volatility that could impact raw material prices.

The current forecast presents conflicting data impacts. Technical data indicates a significant negative impact of -$0.567/mmbtu, suggesting downward pressure. Conversely, data on demand, flows, and supply suggest upward pressure on prices, highlighting a lack of consensus in the forecast.

Recent analyses reveal that the NYMEX natural gas market is under upward price pressure due to expected colder weather and increased heating demand. A report from Energy Intelligence on January 23, 2026, notes that February gas futures rose by 23 cents to a seven-week high of $5.275 per million Btu, marking a 70% increase over four sessions. This rise is attributed to forecasts of a winter storm expected to affect the U.S. through the weekend, reinforcing a late January cold outlook seen as both a demand event and a supply risk.

This analysis suggests a contrary opinion from external sources, indicating potential upward movement in natural gas prices over the next month.