1507 ET - U.S. natural gas futures extend their rally to four sessions with winter storm Fern raising heating demand for much of the U.S. and threatening to freeze in substantial amounts of production. The duration and intensity of the cold are expected to drive potentially record storage withdrawals over the next several weeks, sharply tightening the supply-demand balance, says Andy Huenefeld of Pinebrook Energy Advisors. Early signs of freeze-offs are already knocking several billion cubic feet per day off production, he adds. "The result has been a rapid repricing not just of February risk, but of the entire forward curve, as expectations for end-of-winter inventories and summer balances are reset higher." Nymex gas for February delivery settles up 4.6% at $5.275/mmBtu for a 70% weekly gain, the sharpest rise for a week on records stretching back to 1990. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
January 23, 2026 15:07 ET (20:07 GMT)
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