Natural gas price jumps toward $3.70 as polar vortex talk jolts the market — what to watch next week
U.S. natural gas futures surged Monday, with the February contract rising 57.3 cents to $3.676 per mmBtu on forecasts of a late-January cold spell. Analysts cited short-covering and steady LNG demand. U.S. markets were closed for Martin Luther King Jr. Day, with attention turning to Tuesday’s reopening and Thursday’s storage report. Europe’s TTF gas price dropped over 7% to about 34 euros per megawatt-hour.