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flag U.S. natural gas prices fell 17% to $3.62/million Btu on Feb. 2, 2026, after extreme winter weather caused supply disruptions and price spikes.

flag U.S. natural gas prices dropped 17% to $3.62 per million Btu on February 2, 2026, reversing a surge caused by extreme winter weather that disrupted production and boosted demand. flag Record cold and a major storm led to widespread freeze-offs, straining power grids and spiking prices, but milder forecasts and recovering production eased supply concerns. flag While LNG exports slowed and demand remained high in the Northeast, the market stabilized as weather moderated and production rebounded. flag The episode highlighted vulnerabilities in energy infrastructure and underscored the role of natural gas in grid reliability, even as global markets showed divergent trends due to regional weather and supply dynamics.

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