Natural gas prices surge on surprise forecast for cold weather across US

Natural gas prices are surging after a dramatic change to U.S. weather forecasts indicates that winter-like temperatures will grip much of the country in the coming days.

The surprise forecast comes on the heels of a two-month rally that pushed natural gas futures up 12 percent through last week. Prices have lately been trading at highs going back to January as U.S. stockpiles of the fuel sit near the lowest levels in over a decade going into the winter season.

On Monday, natural gas prices rocketed another 8.6 percent higher. Prices hit a session peak of $3.58 per million British thermal units on Tuesday, the highest level since Jan. 29…

 

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