US Natgas Jumps Over 14% to 6-week High as Temperatures Drop

U.S. natural gas futures soared over 14% to a six-week high on Dec. 12 after the latest forecasts called for more cold this week than previously expected and confirmed earlier outlooks for extreme cold later in January, reminding the market of price spikes during last February's freeze.

Traders also noted production has been slow to return following freeze-offs and other weather-related declines over New Year's weekend.