Natural Gas Prices Soar as Winter Storm Is Set to Drop Snow, Ice Across Massive Swath of the US

US natural gas futures jumped more than 50% in two days, putting futures on track for their biggest weekly gain in more than three decades, as dangerously cold temperatures are set to take hold of a massive swath of the country.

A storm will descend on the US starting Friday, plunging Texas into a deep freeze before threatening to dump snow on New York City and Boston. The conditions bring the threat of disruptions to gas production as water freezes inside pipelines — a situation that proved disastrous for Texas in 2021, when gas supply outages during extreme cold contributed to a collapse of the state’s power grid.