Spot prices for U.S. natural gas in the Northeast surged to record levels as an intense Arctic cold front drove heating demand sharply higher and disrupted supply by freezing oil and gas wells and gathering lines. The extreme weather pushed national gas output to its lowest point in roughly two years, tightening regional balances and amplifying volatility in Natural Gas markets, while wholesale power prices in the region also spiked as generators relied more heavily on gas-fired capacity.
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Over the past month, benchmark U.S. natural gas futures have climbed about 22.8%, reflecting both weather-driven demand and concerns over constrained supply. The recent price strength is consistent with elevated seasonal risk as winter conditions remain a key driver of marginal demand. The 1-day technical analysis for CM:NG currently points to a Buy signal, suggesting short-term momentum remains positive, although traders may monitor for mean reversion once temperatures normalize and production rebounds. Investors can explore more updates, prices, and analysis across global markets at Commodities.