Natural-gas futures are jumping 20%. It will be toughest test in a decade, one analyst says.
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Natural-gas futures surged 20% to $3.71 on Tuesday due to a forecast of bitter cold in the Northeastern U.S. Tom Kloza, an oil analyst, stated that the upcoming two weeks will be the toughest test for heating oil and natural gas markets in nearly a decade. The National Weather Service predicts temperatures 15 to 25 degrees Fahrenheit below normal, impacting the market after a previously mild winter. Despite this surge, natural gas prices remain 32% lower than their December peak due to increased production in Appalachia and the Permian Basin.
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