U.S. natural gas prices surged to a three-year high as an intense Arctic cold snap disrupted output, sending front-month futures sharply higher after a 114% gain over five sessions. The freeze-off in wells and pipelines pushed U.S. gas production to its lowest level in about two years, tightening supply and amplifying volatility in Natural Gas futures. The weather-driven shock is also being monitored by oil traders, with potential spillover effects on the broader energy complex, including Oil – US Crude and Oil – Brent Crude, as prolonged disruptions could alter fuel switching dynamics, storage trajectories, and near-term demand expectations.
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Over the past month, natural gas has rallied 27.41%, reflecting both the severity of the cold spell and a shift in expectations around winter supply-demand balances; the current 1-day technical setup for the contract is flashing a Buy signal, underscoring strong short-term momentum. Brent has advanced 8.32% in the last month, supported by weather-related demand and broader geopolitical risk, with its daily technical reading also at Buy, suggesting bullish sentiment remains intact. U.S. crude has climbed 7.73% over the same period, similarly showing a near-term Buy indication, as investors weigh tighter product markets and potential knock-on effects from gas price strength. Investors can explore more updates, prices, and analysis across global markets at Commodities.