Natural Gas - LNG (JKM) Prices

29-01-2026 - Over the past month, the price of natural gas (LNG JKM) has risen from $9.69 to $11.29 per mmbtu, indicating a strengthening market possibly due to changes in demand or supply dynamics. The forecast for LNG JKM is $11.20 per mmbtu, a slight decrease of $0.09 per mmbtu or -0.8% from the current price, suggesting a stable trend with minimal pricing risk. Technical data indicates upward price pressure, with a $0.4 per mmbtu impact driven by price signals. However, demand, flows, and supply data suggest downward pressure, resulting in mixed signals for raw material prices.

Recent analyses present a bullish outlook for the NYMEX Natural Gas market in the coming month, which contrasts with the forecasted price decline to $11.20 per mmbtu. For example, Constellation's Energy Market Update from January 26, 2026, highlights that February NYMEX futures settled at $6.80 per mmbtu, a notable increase of $1.525. This rise is attributed to Winter Storm Fern, which has caused reduced natural gas production due to freeze-offs and is expected to lead to significant storage withdrawals. The report also notes a shift in storage inventories from bearish to bullish for the rest of the winter as a result of the storm.

Overall, this analysis suggests an upward trend in natural gas prices, offering a perspective that contrasts with the forecast's prediction of a price decline.