Natural gas futures soared Tuesday following a historic Arctic freeze that crippled much of the nation’s natural gas infrastructure as demand soared to unprecedented levels. The March Nymex gas futures contract settled at $3.129/MMBtu, up 21.7 cents from Friday. April prices lagged a bit, climbing 10.7 cents to $2.983.

Oneok Gas Transmission

Cash prices remained volatile after the weekend, with next-day gas in Oklahoma surging as high as $999.00 amid the unparalleled winter blast that slammed the region. NGI’s Spot Gas National Avg. rose $18.800 from Friday’s levels to $80.760.

The American Gas Association said 151.7 Bcf of natural gas was delivered in the United States on Sunday and 149.8 Bcf was delivered on Monday, setting a record for demand over the two-day period. Monday was the second...