Natural gas futures experienced a notable decline on January 21, 2025, as traders reacted to milder weather forecasts and technical signals indicating bearish momentum. Despite an Arctic blast impacting parts of the U.S., the market largely dismissed its immediate effects, focusing instead on predictions of milder weather for late January. This shift in sentiment was compounded by a bearish reversal pattern observed last week, which has led to increased selling pressure. Additionally, while the Energy Information Administration reported a significant storage withdrawal, domestic storage levels remain above seasonal averages, further dampening bullish sentiment.
The ProShares UltraShort Bloomberg Natural Gas ETF (KOLD) rose to $33.46, marking a 3.59% increase as of 10:00 AM ET on January 21st.