January natural gas futures edged lower in thin pre-Christmas trading, with liquidity and attention shifting to the February contract, which also moved lower ahead of its roll into the front-month position on Monday.

Line chart showing NGI’s Algonquin Citygate Midday Alert natural gas prices from late December 2024 through December 2025, with prices in dollars per MMBtu. The chart highlights extreme winter volatility, including a spike above $30/MMBtu in late January 2025 and another surge near $25/MMBtu in November 2025, followed by lower, mostly stable prices during spring and summer months.

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Here’s the latest:

January futures down 15.9 cents to $4.249/MMBtu as of 2:35 p.m. ETFebruary contract slides 13.0 cents to $3.766