Natural Gas Set For Biggest Weekly Price Spike Ever As US Brace For Cold Wave

Natural gas prices are heading toward a historic weekly surge as expectations for blockbuster heating demand collide with an exceptional cold wave gripping much of the U.S. in the latter part of the week.

UNG ETF has rallied sharply this week. Check live prices here.

Futures at the Henry Hub facility surged past $5 per MMBtu on Friday, putting prices up roughly 60% for the week, the largest weekly gain on record since natural gas began trading in 1990. The move comes as forecasters warn that dangerously cold air, heavy snow and crippling ice could strain energy systems nationwide.

"Record cold wave expected to hit 40 States. Rarely seen anything like it before," President Donald Trump said Friday. While campaigning for the 2024 presidential election, Trump pledged to cut U.S. energy prices in half within a year if elected.

The National Weather Service issued a series of warnings highlighting the severity of the unfolding storm. Forecasts call for heavy snow across the Central and Southern Plains into the Ohio Valley, ...