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00:03Natural gas prices surged Tuesday as forecasts pointed to rising heating demand from a blast
00:08of frigid weather across the U.S., according to CNBC. Prices jumped about 26 percent,
00:14or 80 cents, to $3.91 per million British thermal units.
00:20EBW Analytics said Arctic air moving across the eastern U.S. is expected to boost weather-driven
00:26demand over the MLK weekend and disrupt the near-term natural gas market.
00:31The National Weather Service forecast a major winter storm, bringing snow, sleet, and freezing
00:37rain to the southern Rockies, the Plains, and the south before shifting toward the east coast.
00:43EBW Analytics said cold conditions could threaten production freeze-offs and noted speculators
00:48short positions at a 14-month high, which could add upward pressure if positions are covered.
00:53The group also said volatility is expected to remain high, with prices potentially easing
00:59if weather models warm into mid-February.
01:01For all things money, visit Benzinga.com.
