economy

January 20, 2026

Natural gas prices soar as cold snap blasts across the U.S.

A big winter storm is forecast to dump heavy snow, sleet and treacherous freezing rain across large areas of the U.S. this weekend.

Natural gas prices soar as cold snap blasts across the U.S.

TL;DR

  • Natural gas prices rose approximately 26% on Tuesday, reaching $3.91 per million British thermal units.
  • The price increase is attributed to the expectation of high heating demand caused by a cold weather blast across the U.S.
  • A major winter storm is forecast to bring snow, sleet, and freezing rain from the southern Rockies to the East Coast.
  • Frigid temperatures could lead to production freeze-offs.
  • Speculator short positions are at a 14-month high, potentially driving prices higher as shorts buy back gas.
  • Volatility is expected to remain high, with potential for price softening if temperatures warm in mid-February.

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