Strength in cash prices and expectations for ongoing blasts of frigid air over swaths of the Lower 48 sent natural gas futures higher on Wednesday. The February Nymex contract settled at $3.882/MMBtu, up 16.5 cents day/day. March gained 12.8 cents to $3.710.

At A Glance:

  • Cash prices cruise higher in the Midwest, Northeast 
  • Forecasters call for more rounds of freezing temperatures
  • European demand to drive elevated U.S. exports

NGI’s Spot Gas National Avg. advanced 81.0 cents to $5.105, bolstered by freezing temperatures and elevated demand in the nation’s midsection.

Though volatile to start 2022 – with weather models each day showing varying degrees of cold through most of January – the bottom line remains firm: Frosty winter weather and robust heating demand are in...