Natural Gas Prices Surge 16% in the U.S. Amid Expectations of Colder January Weather

Foreks - U.S. futures natural gas prices rose on Monday, reaching a 52-week high, following a report indicating colder-than-normal temperatures for January. An updated outlook published by The Weather Co. and Atmospheric G2 suggests that temperatures are expected to be below average in the East, particularly from Florida to Maine and certain areas of the Great Lakes, leading to a nearly 16% increase in February futures natural gas prices during the session. February delivery gas traded in New York rose by 16% to $3.936 per million British thermal units, marking the largest daily jump since the contract began trading in 2012. At one point during the trading session, the most active contract climbed to its highest level in two years on a daily basis.