Natural gas futures surged on Monday, reaching a 52-week high, following forecasts of colder-than-average temperatures for January in the Eastern U.S., particularly from Florida to Maine. February futures climbed nearly 15%, peaking at $4.201 per thousand cubic feet, the highest since January 4, 2023. The colder temperatures could also lead to production disruptions due to “freeze offs,” as noted by energy analysts. Meanwhile, Brent crude rose to $74.39, and U.S. West Texas Intermediate increased to $71.16 a barrel. Natural gas prices have surged nearly 9% in the past week and 58% this year.
