Natural gas futures surge as powerful winter storm looms
CNN
Natural gas futures are climbing sharply ahead of a blizzard that will force millions of Americans to crank up the heat.
If maintained, the rally will translate to higher home heating costs in the weeks to come, adding to the inflationary pressures hitting the US economy.
Natural gas futures expiring in March surged 12% on Friday to $4.79 per million British thermal units. The contract hit an intraday high of $4.88, the highest level since late November. For the week, the March natural gas contract is up more than 25%.
President Joe Biden asserted Friday that Hamas has been degraded to a point where it can no longer carry out the type of attack that launched the current 8-month conflict in Gaza, laying out a three-phase proposal Israel has submitted to wind down the grinding crisis as he declared, “It’s time for this war to end.