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Natural Gas Surges as U.S. Forecasts Stoke Winter Supply Jitters

  • Weather outlook shows a boost in heating demand in November
  • Gas stockpiles are below normal for the time of year
Updated on

U.S. natural gas prices soared the most in more than a year, erasing much of a recent decline, as end-of-month trading boosted volatility and forecasts for chillier weather revived concerns about tight supplies.

Henry Hub gas for November delivery gained 11.7%, the biggest gain since September 2020, to $5.898 per million British thermal units. Prices are bouncing back from recent declines, though they’re still shy of 12-year settlement high reached earlier this month. Traders were closing out bearish positions before November options expire on Tuesday.