After surging over the past several sessions as bone-chilling cold canvassed much of the country, U.S. natural gas spot prices gave back a chunk of the gains Tuesday but remained elevated versus pre-Winter Storm Fern levels.

Line chart showing NGI’s National Average daily natural gas prices from late January 2025 to late January 2026, with prices largely ranging between $2–$5/MMBtu through most of the year before surging sharply above $45/MMBtu in late January 2026. Source: NGI’s Daily Gas Price Index.

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At A Glance:

Northeast hubs fall back to double-digitsCold weather grips eastern U.S.Power grids showing resilience