US natural gas prices today: US natural gas prices jumped sharply on Monday, rebounding from a thirteen-week low as forecasts predicted a much colder-than-normal stretch across large parts of the country, as per a report.

US Natural Gas Prices Surge Today: Henry Hub Futures Jump Nearly 20% to $3.70 per MMBtu

Futures tied to the Henry Hub rose nearly 20% to around $3.70 per million British thermal units (MMBtu), marking the largest single-day gain since October 2024 and the second biggest since September 2020, as per a Finviz report.

Arctic Outbreak Drives Heating and Electricity Demand

The spike is being driven by a deepening Arctic outbreak moving south from Canada into the central and eastern US, raising concerns about surging heating and electricity demand.

The National Weather Service highlighted that “rounds of shortwave energy rotating around the base of an upper low centered over Hudson Bay will generate frigid and gusty westerly flow over the Great Lakes,” with lake-effect snow accumulating 8–12 inches and temperatures in the Midwest expected to remain in the single digits to below zero.

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Freeze Warnings Issued Across Southeast States

Clear skies across the Southeast are also contributing to sharply colder nights, prompting freeze warnings from southern Georgia into northern and central Florida, as per the Finviz report.

Experts note that more than 200 million Americans are expected to experience below-freezing temperatures, with wind chills plunging 20–30 degrees below zero in parts of Minnesota. The colder outlook is expected to significantly boost heating demand, underpinning the surge in natural gas prices.

Analysts Say Price Spike Driven by Demand, Not Supply Shortages

Market analysts told Rigzone that the price increase is largely tactical rather than structural. Ole R. Hvalbye, commodities analyst at Skandinaviska Enskilda Banken AB, said the rise reflects the combination of colder weather, steady LNG demand, and short-covering after a recent sell-off, rather than a sudden supply disruption, as per the Rigzone report.

Hvalbye explained that, “U.S. production remains strong, storage is still comfortable, and nothing suggests a sudden structural tightening from my data – i.e., a reason why the move looks tactical rather than fundamental,” as quoted by Rigzone.

Phil Flynn, senior market analyst at PRICE Futures Group said, “This cold caught some by surprise and it’s not only this cold blast, it’s how far south it’s going and the fact that it might be more sustained than originally thought,” addeding, “You’re seeing a big movement up in the front end of the curve … The market is gapping higher and if this cold stays around for a little bit, it could keep these prices strong,” as quoted by Rigzone.

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US Natural Gas Prices Predictions 2026

Financial research supports this upward trend. JPMorgan projects Henry Hub prices will average $3.85 per MMBtu in Q1 2026 and $3.74 per MMBtu for the full year, as per the Rigzone report.

Enverus expects winter prices to average $3.80 per MMBtu, rising to $4.00–$4.50 by the decade’s end. Fitch Group’s BMI report anticipates $3.90 per MMBtu this year and $4.00 next year.

Meanwhile, the US Energy Information Administration (EIA) forecasts the Henry Hub spot price will fluctuate between $3.38 and $4.84 per MMBtu across 2026–2027, reflecting seasonal volatility.

Natural Gas Stocks Likely to React When Wall Street Reopens Tomorrow

With Wall Street closed for Martin Luther King Jr. Day, natural gas-linked stocks may see strong reactions when markets reopen. Analysts point to companies like EQT Corp., Chesapeake Energy, Antero Resources, and Range Resources as being closely tied to pricing and production movements.

FAQs

Why are US natural gas prices rising today?
Prices surged due to a colder-than-normal forecast across much of the country, increasing heating demand.

How much did Henry Hub futures jump?
They rose nearly 20%, reaching about $3.70 per MMBtu.