US natural gas prices surge nearly 60% in 3 days
Business
Natural gas prices in the US just shot up by almost 60% in three days, hitting about $3.50 per MMBtu.
The main reason? A sudden cold snap across the Midwest and Northeast has everyone cranking up the heat, which sent demand—and prices—way up.
Why it matters: storage lows, coal comeback, and energy stress
With storage levels dropping below normal and exports running high, supply isn't keeping up with demand.
Utilities are even switching back to coal because it's cheaper right now.
On top of that, the cold weather and booming AI data centers are putting extra pressure on electricity grids—especially in regions like PJM where power costs are spiking.
Even though oil prices have stayed steady, this gas price jump is a reminder that energy markets can get wild fast when weather and tech needs collide.