Natural gas prices jumped in February bidweek trading as cold winter blasts permeated the nation’s midsection and much of the East, fueling heating demand and threatening production cuts. Anticipation of a massive snowstorm walloping the East Coast over the final weekend of January – the storm did indeed deliver – furthered the momentum.

NGI’s February Bidweek National Avg. climbed 71.0 cents month/month to $6.785/MMBtu. It was up 140% from the $2.825 recorded in the February 2021 bidweek.

Several demand hubs in the nation’s midsection and the East, where freezing low temperatures were widespread over the final days of January, bolstered bidweek trading that spanned Jan. 25-27.

Northeast natural gas prices led the way. Iroquois Zone 2 spiked $4.965 to average...