February Nymex natural gas (NGG26) on Wednesday closed up sharply by +0.968 (+24.78%),
Feb nat-gas prices rallied sharply for a second day on Wednesday, reaching a 6-week high. Natural gas prices have surged more than 50% over the last two days on forecasts of Arctic weather invading the US, boosting heating demand and potentially threatening disruptions to US gas production as water freezes inside pipelines. According to AccuWeather, a massive Arctic cold front will descend into the US as far south as Texas, bringing below-normal temperatures to more than 150 million people across 24 states. Also, the frigid conditions expected in Texas this weekend, where key gas production sites are located and infrastructure is less hardened to cold weather, increase the risk of temporary outages and reduced nat-gas production.
