Natural gas futures jumped on Monday due to predictions of an arctic blast impacting the East Coast. Investors anticipate increased demand for natural gas to provide heating during the prolonged cold spell.
Natural gas futures surged Monday due to forecasts that an arctic blast will hit much of the East Coast and, natural gas futures for February 2025 surged nearly 16% to $3.92 per million British thermal units, as investors bet that more natural gas will be needed to provide heat during cold weather.
Forecasts show extreme cold weather from Canada moving southeast across the United States. The arctic blast is expected to last for weeks and peak in mid-January 2025.said that, in January, “most of the East is expected to have temperatures colder-than-average, from Florida to Maine and parts of the Great Lakes. Much of the West can expect milder-than-average temperatures, with the Four Corners region being the most above average.
“The first Arctic high-pressure area will sink southward across the Plains and impact Texas early next week,” Pastelok said. “This airmass will continue to follow the storm along the Gulf Coast, Tennessee Valley, and Southeast between Jan. 8 and 9.”
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