Natural Gas Prices Soar as Winter Storm Is Set to Drop Snow, Ice Across Massive Swath of the US
Bloomberg • • business
Key Points:
- US natural gas futures surged over 50% in two days, heading for their largest weekly gain in more than 30 years due to an impending severe cold weather event.
- A storm arriving Friday is expected to cause a deep freeze in Texas and bring snow to New York City and Boston, raising concerns about widespread freezing conditions.
- The extreme cold poses risks to gas production as frozen water inside pipelines could disrupt supply, recalling the 2021 Texas crisis when gas outages contributed to a major power grid failure.
