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U.S. natural gas prices dropped below $3/MMBtu in early February 2026 due to warm weather, increased supply, and global market shifts, while Europe saw lower prices despite low storage.
U.S. natural gas prices fell below $3/MMBtu in early February 2026, driven by warmer weather forecasts, rebounding production after Winter Storm Fern, and a surge in global LNG supply.
European prices also dropped, with the Dutch TTF falling to $36.41/MWh, the lowest in five weeks, despite low storage levels.
Analysts attribute the decline to stronger global market integration, softer European carbon prices, and reduced demand from milder temperatures.
While U.S. and European markets remain linked, ongoing storage deficits in Europe raise concerns for winter readiness, with projections showing levels dropping to 26% by March.
Los precios del gas natural de los Estados Unidos cayeron por debajo de $ 3 / MMBtu a principios de febrero de 2026 debido al clima cálido, al aumento de la oferta y a los cambios en el mercado global, mientras que Europa registró precios más bajos a pesar del bajo almacenamiento.