In this article
U.S. natural gas prices
surged above $6 for the first time since late 2022 on Monday as a huge winter storm swept across the country, leaving hundreds of thousands without power and forcing mass flight cancellations.
Natural gas futures for February delivery traded 18% higher, or 95 cents, to $6.2 per million British thermal units at 8:15 a.m. London time (3:15 a.m. ET), notching a new 52-week high.
It is the first time the contract, which is up around 68% year-to-date, has climbed above the $6 level since Dec. 2022, when European demand for U.S. liquefied natural gas soared following Russia’s full-scale invasion of Ukraine earlier in the year.
