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Barchart
Barchart
Rich Asplund

Nat-Gas Prices Underpinned by a Historic US Winter Storm

February Nymex natural gas (NGG26) on Friday closed up by +0.230 (+4.56%).

Feb nat-gas prices settled sharply higher on Friday but remained below Thursday's 3-year nearest-futures high.  Nat-gas prices have surged this week as a historic winter storm that will dive into the US this weekend will boost heating demand and drain nat-gas inventories.  Natural gas prices have surged more than 60% this week on forecasts of Arctic weather invading the US, potentially disrupting US gas production as water freezes in gas pipelines.   According to AccuWeather, a massive Arctic cold front will descend into the US as far south as Texas this weekend, bringing below-normal temperatures to more than 150 million people across 24 states.  

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