February 23rd 2025 Weekly Forecast On Natural Gas!
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Predicting where natural gas prices will close for the upcoming week—starting Monday, February 24, 2025—is tricky because it depends on a lot of moving parts like weather, supply, demand, and market sentiment. I don’t have a crystal ball, but I can give you a sense of what might happen based on current trends and insights.
Right now, as of February 23, 2025, natural gas prices are influenced by a mix of factors. The Henry Hub spot price was at $7.78 per million British thermal units (MMBtu) last Wednesday, February 19, after a big jump from $3.94 the week before, driven by colder weather across the U.S. Futures for March 2025 were up to $4.280/MMBtu by that same Wednesday, showing the market’s expecting some sustained demand. But here’s the catch: forecasts are hinting at milder weather in places like the Northeast next week, with temperatures possibly hitting the 50s. Warmer weather could cool off demand for heating, which might pull prices down a bit.
On the flip side, storage levels are tighter than usual—2,101 billion cubic feet (Bcf) as of February 14, which is 5% below the five-year average—and withdrawals have been hefty lately (196 Bcf last week alone). That tightness could keep prices supported if cold snaps linger elsewhere or if LNG exports stay strong. Speaking of exports, the U.S. is shipping out a ton of liquefied natural gas—110 Bcf left ports between February 13 and 19—so global demand might prop things up too.
Looking at short-term forecasts, some analysts peg natural gas prices for Thursday, February 27, at around $3.812/MMBtu, with a range between $3.621 and $4.003. That’s a drop from last week’s highs, suggesting a possible easing off. Some also hint at a potential pullback, with milder weather in the forecast and some traders betting on a downward shift into March.
So, where might it close by Friday, February 28? If the milder weather dominates and storage worries don’t spike, I’d lean toward a close in the $3.50 to $3.80/MMBtu range—maybe around $3.70. But if unexpected cold hits or supply hiccups pop up, it could stick closer to $4.00 or even nudge higher. It’s a coin toss, really, and the market’s been jumpy lately, so anything’s possible.
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