Natural gas price surge jolts UNG and producers as U.S. cold snaps back into view
NYMEX February natural gas futures jumped 25.2% Tuesday to $3.885/mmBtu, the steepest daily gain since January 2022, as traders covered shorts on colder U.S. forecasts. Next-day cash prices in New York soared nearly 200% to $11.76/mmBtu, while West Texas Waha prices stayed below zero. U.S. LNG export flows matched record highs, and gas-linked funds rallied sharply.