"Winter Isn't Over": NatGas Soars As Another Cold Blast Targets US East

U.S. natural gas futures experienced a significant surge, the largest since late October, driven by an incoming cold blast. An energy trader emphasized that winter is not over, predicting another wave of cold weather. This chill is targeted towards the eastern United States, impacting major population centers. The upcoming cold snap follows a brief warm-up after an earlier polar vortex. Celsius Energy highlighted volatile near-term natural gas demand, forecasting a significant increase in daily storage withdrawals. These withdrawals will surge significantly, exceeding the five-year average. Natural gas futures increased by nearly 10% by late Tuesday afternoon, reaching approximately $4.365 per MMBtu. The heating degree days index, which measures heating demand, is projected to rise above the 30-year average. The return of cold weather emphasizes the need for preparedness in the eastern states.