Cold temperatures that have increased the demand for heat have catapulted U.S. natural gas futures to their strongest start to a year yet. Year to date, February futures rose 27%–a record—as February natural gas futures rose 11.49% to $4.742 per million BTUs at 1:43 pm EST on Wednesday. The catalyst behind the increase in natural gas futures is a batch of freakishly cold weather hitting the East Coast, along with a winter storm that is now barreling toward the south. Millions woke up to a deep freeze on Sunday as a snow bomb cyclone ravaged states from Kentucky to Maine, with some states declaring a state of emergency. The cold snap—with the promise of more to come–has caused front-month natural gas futures to cross both the 200-day and 50-day averages, prompting traders to scramble to cover shorts and buy out of their bets. Gary Cunningham, director of market research […]