Natural gas futures prices soared to a new 52-week high on Monday, fueled by a colder-than-usual temperature outlook for January. Reports from The Weather Co. and Atmospheric G2 predict a significant drop in temperatures across the East, with the coldest period expected around mid-month.
Natural gas futures prices surged Monday, hitting a new 52-week high following reports of a colder-than-usual temperature outlook for January.rose nearly 19% during the session after an updated outlook by The Weather Co. and Atmospheric G2 released Sunday showed that the temperature forecast for next month is lower than usual. Philadelphia news 24/7: Watch NBC10 free wherever you are The West, however, is expected to see temperatures come in milder than average, according to the report.
Notably, the'Four Corners' region – the area of the United States that consists of the southwestern corner of Colorado, southeastern corner of Utah, northeastern corner of Arizona and northwestern corner of New Mexico – is expected to be the most above average. The report also said that colder temperatures in the East could hit a peak by mid-month, likely being'much farther below average' when compared with the entire month's forecast for the eastern U.S. That said, it's still unclear how temperatures will take hold in January's second half.with areas seeing'substantial snow and ice' for a significant portion of the month's first half. They added that the drop will begin in the middle and latter part of next week.'We are talking bone-chilling, polar-vortex weather, which has caused this spike in natural gas this morning,' the firm's founding partner said.The February futures move comes as natural gas – which is used for home heating – has seen major gains as of late. Prices of the commodity have jumped nearly 9% in the past week and about 58% this year.How to invest $50,000 in 2025 for the biggest returns with only modest riskDonald Trum
NATURAL GAS ENERGY PRICES WEATHER FORECAST COLD SNAP COMMODITY MARKET
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