Natural gas surges 14% as cold snap ahead is expected to boost demand


A liquid natural gas (LNG) storage silo at the LNG terminal, operated by LNG Croatia LLC, in Krk, Croatia, on Monday, Jan. 25, 2021.

Petar Santini | Bloomberg | Getty Images

U.S. natural gas futures surged more than 14% on Wednesday as temperatures drop and forecasts call for more winter weather ahead.

The contract for February delivery advanced 14.3% to settle at $4.857 per million British thermal units, hitting the highest level since November.

“The heating demand outlook for [the] eastern-third of the U.S. has strengthened materially for this weekend and for the last week of January,” said Again Capital’s John Kilduff, noting that this Saturday could see record natural gas demand due to a…


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