Natural Gas Prices Surge As Arctic Blast Fuels Demand

U.S. natural gas futures surged to $4.25/MMBtu in Wednesday’s session as Arctic cold boosts heating demand while potential freeze-offs threaten supply. An incoming Arctic blast is driving a surge in heating demand and also fueling concerns over potential production freeze-offs. According to Maxar’s latest forecast models, colder-than-expected temperatures are expected across the central and eastern U.S. through early March. Natural gas demand has been surging, with consumption currently at 122.9 Bcf/d, good for a 21% Y/Y increase. On…