Energy markets react to extreme winter forecast
Natural gas prices surged sharply on Wednesday as forecasts pointed to an intense Arctic cold front sweeping across large parts of the United States. Traders moved quickly to price in a spike in heating demand as frigid temperatures are expected to dominate much of the country through the weekend.
Prices climbed by roughly 25%, settling near $4.88 per million British thermal units, marking one of the strongest single-day moves this winter.
Life-threatening cold across the Midwest and Plains
According to the :contentReference[oaicite:0]{index=0}, wind chills in the Upper Midwest and Northern Plains could plunge as low as minus 50 degrees Fahrenheit. Such conditions pose a severe risk of hypothermia and frostbite, especially for anyone exposed for even short periods.
Authorities warned that potential power outages could amplify the danger by disrupting heating systems. Households were urged to take precautions, including protecting pets and minimizing time outdoors.
Snow and ice storms add to disruption risks
Beyond the extreme cold, heavy snowfall is expected in parts of Colorado and New Mexico, with the storm system spreading eastward across the southern Plains and into the Mississippi Valley. By the weekend, the system is forecast to reach the southern Appalachians, the Carolinas and the Mid-Atlantic.
Texas and portions of the Deep South face an additional threat from a major ice storm, raising concerns about hazardous travel, fallen trees and damaged power lines.
Prolonged impacts expected
Subzero and single-digit temperatures are also forecast to expand into the Ohio Valley and the Northeast by Sunday. Meteorologists cautioned that the scale and duration of the cold could delay melting of snow and ice, extending disruptions for several days.
The combination of extreme cold, snow and ice is expected to keep energy demand elevated, reinforcing upward pressure on natural gas prices in the near term.
