Spot gas prices retreated for Wednesday delivery at most major hubs, yet prices remained elevated as bitter cold gripping the eastern half of the country fueled demand and strained deliverability.

Line chart showing NGI’s Henry Hub MidDay Alert Price from late January 2025 to late January 2026, with prices mostly ranging between $2–$5/MMBtu through most of 2025 before spiking sharply above $30/MMBtu in late January 2026. Source: NGI’s MidDay Price Alert.

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