US natural gas prices experienced a significant surge, climbing by nearly 20% to approximately $3.70 per million British thermal units (MMBtu) on Monday, January 19, 2026. This sharp increase marks a rebound from a thirteen-week low of around $3.10/MMBtu observed just days prior. The primary catalyst for this price rally is the forecast of an intensifying Arctic cold front, which is expected to spill south from Canada into the central and eastern United States. Weather forecasts from the National Weather Service and The Weather Channel predict frigid temperatures, with over 200 million Americans potentially experiencing below-freezing conditions from late January into early February. This severe cold is anticipated to lead to a substantial increase in demand for natural gas, primarily for residential and commercial heating, as well as electricity generation. Market sentiment, often described as 'bullish,' is now eyeing the $4.00/MMBtu level. Financial institutions like JPMorgan project Henry Hub prices to average $3.85/MMBtu in the first quarter of 2026. Other forecasts, including those from Enverus and Fitch Group's BMI report, anticipate winter prices averaging around $3.80/MMBtu, with potential to reach or exceed $4.00-$4.50/MMBtu later in the decade. While the US Energy Information Administration (EIA) previously projected an annual average decrease for 2026 before a rise in 2027, the current spike is largely seen as a tactical market correction driven by weather-related demand and short-covering, rather than a fundamental long-term structural shift. The news is corroborated by multiple credible sources, including The Economic Times, Rigzone, Finviz, TradingView, and Investing.com India, all reporting on the same market movements and underlying weather factors.