Massive snowstorms and the threat of intensifying frigid air in the coming weeks amped up the gains for natural gas forwards in the final days of January into early February. March prices averaged 19.0 cents higher for the period, while solid export demand seen this summer (April-October) lifted the strip an average 8.0 cents, according to NGI’s Forward Look.

Smaller increases were seen for next winter (November 2021-March 2022), but prices were barely changed for the summer 2022 months.

Although this winter was heading toward one of the warmest on record, a string of bitter storms that started circulating through the Lower 48 in late January have revived demand and fueled prices. The latest weather system was forecast to push into the Rockies and Plains into Friday, then...