Market Highlights:
Natural gas storage
Working gas in storage totaled 2,823 billion cubic feet (Bcf) as of Friday, January 23, 2026, according to EIA estimates. This amount represents a net withdrawal of 242 Bcf from the previous week. Stocks were 206 Bcf higher than last year at this time and 143 Bcf above the five-year average of 2,680 Bcf. The average rate of withdrawals from storage is 2% greater than the five-year average so far in the withdrawal season (November through March).
Natural gas prices
The Henry Hub spot price rose by $4.05 per million British thermal units (MMBtu), from $4.98/MMBtu last Wednesday to $9.03/MMBtu yesterday. Henry Hub also reported a record-high nominal price on Monday of $30.57/MMBtu, according to data from Natural Gas Intelligence. Henry Hub prices increased by 81% over the week, with sub-freezing temperatures persisting across much of the country, as Winter Storm Fern brought in snow and ice. Prices will likely remain elevated at affected key hubs until increased demand for space heating subsides.
Liquefied Natural Gas (LNG)
For the week ending January 28: 118 Bcf of total LNG-carrying capacity departed U.S. ports, down 22 Bcf from the previous week. 31 LNG vessels left U.S. ports, down 6 vessels from the previous week. Five terminals reported fewer vessel departures compared with last week, and one terminal reported more departures. Three LNG vessels with a combined 11 Bcf of LNG-carrying capacity arrived at U.S. ports, compared with no vessels last week.