U.S. natural gas prices rose nearly 3% on Monday as a massive winter storm hit the northeast of the country, affecting 35 million people and leaving hundreds of thousands without power.
It comes as cities and towns across the U.S. east coast brace for a major late-winter storm, with forecasters warning of between 1 to 2 feet of snow in many areas, winds of up to 70 miles per hour and coastal flooding.
Natural gas futures
for March delivery traded 2.7% higher at $3.13 per million British thermal units at 9 a.m. London time (4 a.m. ET), paring earlier gains.
The National Weather Service (NWS) said it had placed 35 million U.S. residents under a blizzard warning from Sunday through to Monday.
