U.S. natural gas prices surged sharply on Tuesday, posting one of the largest single-day gains seen this winter as the market quickly repriced near-term supply risk. Front-month Henry Hub futures spiked more than 25 percent and briefly traded near $3.90 per million British thermal units. It is a level not seen in weeks. The immediate driver is the weather. Forecast models over the past 48 hours flipped decisively colder, showing a sustained Arctic outbreak in the Midwest and Northeast into late January. That matters because heating demand had already…

via Oilprice.com https://ift.tt/gTMbKpk