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Midmorning Markets: Natural Gas Cash Edges Higher as Futures Flip to Gains

Natural Gas Intelligence · last updated

Natural gas physical markets hinted at modest gains early Wednesday, with Henry Hub and Waha steadying even as milder forecasts continue to weigh on broader demand expectations.

Chart Titled “NGI’s Waha Daily Gas Price” Showing Waha Hub Natural Gas Spot Prices From Mid-November 2025 to Early February 2026, With Prices Swinging From Below Negative $5.00/MMBtu in Mid-December to a Late-January Spike Near $15.00/MMBtu Before Easing Back Toward Zero in Early February, According to NGI’s Daily Gas Price Index

At A Glance:

  • Henry Hub spot modestly higher day/day
  • Waha trades near negative $1
  • Mild outlook limits national demand