The Energy Buyer's Guide | 02.17.2026

Natural gas prices slide lower in quiet trading.

- Natural gas futures moved lower last week as volatility subsided, with most of the decline occurring on a Sunday gap lower following warmer weather model runs.

- A 249-Bcf storage withdrawal capped a record three-week, 851-Bcf drawdown, pushing inventories into deficits versus both year-ago and five-year benchmarks.

- With milder forecasts ahead, domestic demand falling sharply from late-January peaks, and production rebounding near record levels, end-of-season storage projections are clustering near 1.7–1.8 Tcf.

- Spot natural gas and real-time power prices retreated decisively as system stress continued to ease, signaling a broader normalization across U.S. energy markets as winter risk fades.