January natural gas futures surged Wednesday as a sweeping blast of cold and stormy weather lifted demand across major U.S. markets, but after breaking through $5.00/MMBtu resistance, the contract finished below the key psychological mark.

A detailed NGI natural gas storage estimate graphic for the week ending Nov. 28, 2025, showing NGI’s projected U.S. storage withdrawal of 18 Bcf. The chart compares NGI estimates with EIA weekly storage volumes, along with 5-year maximum and minimum ranges, tracking inventory levels from November 2024 through December 2025. A data table summarizes the previous four weeks of storage activity, noting weekly changes, year-over-year differences, and deviations from the five-year average. The graphic highlights an NGI-observed range of –25 to –12 Bcf, last year’s weekly change of –26 Bcf, and a five-year average pull of –43 Bcf.

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At A Glance:

Prompt month backs off $5.039 highForecasts call for frigid Central/EastStorage pulls set to climb