Gleb Garanich/ReutersNatural gas futures surged 24% with a cold spell expected across the eastern half of the US. Forecasts call for below-average temperatures on the East Coast and parts of the Midwest for January.Rising gas prices are also influenced by fears of cold weather in Europe and continued sanctions against Russia.Natural gas futures soared as much as 24% on Monday as investors anticipated a cold spell that would affect much of the United States.Weather forecasts call for a significant temperature drop starting this weekend up and down the East Coast and some parts of the Midwest heading into January.The cold weather is expected to be below average temperatures and dip into below-freezing levels."Nat gas surging +16% given forecasts of a cold front in the U.S in the coming days," Patricia Medina, market analyst at the New York Stock Exchange, said on Monday.Investors expect the temperature drop to spark a rebound in demand for the heating commodity, which is a common oil substitute.The price of February futures for natural gas jumped to a high of $4.20 per million British thermal units in Monday's trading session.
Similar Stories to Cold Weather Forecasts For January Spark A 24% Surge In Natural Gas Futures on Bing News
mfox@businessinsider.com (Matthew Fox), Business Insider
Mon, 12/30/2024 - 11:06am
Topics: gleb garanich/reutersnatural u forecasts u states u patricia medina new york stock exchange february british august alex kuptsikevich fxpro u kuptsikevich u kupsikevich u u east coast midwest january europe russia kuptsikevich business insider spark surge cold weather natural gas futures oil prices price demand monday inventories temperatures parts spell close call expected energy commodity market bullish sanctions continued temperature analyst drop
BING NEWS:
- Natural gas prices surge after forecasts of a cold January emerge
Natural gas prices have surged nearly 25% over the last month. Energy experts attribute the rise to cold weather expected in January and geopolitical issues around the globe. The cold temperatures ...
01/2/2025 - 12:45 pm | View Link - Natural gas prices spike on forecasts of colder than expected winter
A wave of predictions that a polar vortex will make this January the coldest in years sent natural gas prices up this week, and experts say it could test supplies in the U.S. and Europe.
01/1/2025 - 11:00 pm | View Link - Cold weather forecasts for January spark a 24% surge in natural gas futures
The price of natural gas is up 176% since its 2024 intra-day low reached in mid-February and up about 90% since its early August lows.
12/30/2024 - 5:14 am | View Link - More
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