Natural gas prices stabilized this week after Monday’s sharp selloff, with volatility easing as weather forecasts moderated beyond the near term. The big headline was Thursday’s record 360 Bcf storage withdrawal—the largest weekly draw on record—which, despite its size, landed on the low end of expectations. While inventories tightened meaningfully, warmer outlooks for the second half of February have reduced downside storage risk, shifting end-of-winter projections closer to year-ago and five-year average levels.
