Gas futures prices edged higher in today’s trading

Gas futures prices edged higher in today’s trading, with NYMEX February contracts closing at $2.71/MMBtu, supported by colder weather forecasts in the Midwest and Northeast. Traders are watching storage data, expecting a sharper drawdown next week, which could tighten supply into late January. Market sentiment remains cautiously bullish. Eight OPEC+ members led by Saudi Arabia said they would boost production by 137,000 barrels a day in November, the same as the output increase in October , the group said after an online meeting Sunday. A new risk emerged Wednesday as a partial U.S. government shutdown began, following a standoff between former President Trump’s allies and Senate Democrats. While the Energy Information Administration (EIA) is expected to release its weekly natural gas storage report on schedule, traders remain on alert for possible delays in upcoming data that could cloud market signals and create volatility. Gas futures prices extended their rally, supported by increased withdrawals from Southern region storage. February NYMEX gas closed at $2.79/MMBtu, with open interest rising sharply, signaling fresh speculative entries.