US natural gas prices hit $6 as Arctic blast grips US
Business
Natural gas prices in the US just spiked by 19% to over $6 per unit, thanks to a massive Arctic blast impacting 230 million people.
This sudden chill sent heating demand soaring and triggered the biggest weekly price jump since 1990.
Spot prices go wild as supply takes a hit
Louisiana's Henry Hub saw spot prices shoot up from $8.42 to higher than $28 in just one day, while Houston Chip Channel traded at $30.
With concerns about water icing in pipelines, experts say output could drop by over 5%, making it harder (and pricier) to keep homes warm.
Hedge funds caught off guard
Many hedge funds had bet on a mild winter and got burned as prices blew past the $4 and $5 marks.
If this cold keeps up, gas storage could fall behind by 10% by March—potentially altering the fundamental outlook for the remainder of 2026.