The price of natural gas is up 176% since its 2024 intra-day low reached in mid-February and up about 90% since its early August lows.

Forecasts for early next month turned markedly colder across a swath of the country from Texas to Michigan to Georgia. That shift is driving bullish sentiment for energy demand that already was expected to see a winter-driven spike,

US natural gas futures soared as the weather outlook for January shifted colder, raising demand prospects for the fuel used in heating and power generation.

Natural gas futures prices surged on Monday, hitting a new 52-week high following reports of a colder-than-usual temperature outlook for January.

Natural gas futures maturing in February 2025 rose as high as 20% on Monday after the weather outlook for January estimated colder-than-average temperatures, boosting demand for the commodity used for power generation.

U.S. natural gas futures are on track for their biggest jump in more than two years, as traders anticipate colder temperatures in the U.S. and Europe, as well as the imminent expiration of a deal allowing Russian natural gas to be piped to Europe through Ukraine.