Plunging temperatures, soaring demand and falling production resulted in stout price gains across U.S. natural gas forward curves for the Dec. 31-Jan 5 period, NGI’s Forward Look data showed.

Dollar-plus price increases spread across Appalachia and the Northeast as output struggled to recover amid ongoing cold in the region. The reduction in supply – a whopping 1 Bcf according to estimates – occurred at the same time the biggest snowstorm of the winter hit the Mid-Atlantic. The storm resulted in whiteout conditions, extensive power outages and gnarly road conditions that left motorists on Interstate 95 in Virginia stranded for more than 24 hours. Amid the bullish backdrop, exacerbated by tight pipeline capacity in the Northeast, prices throughout the region surged...