Arctic Blast Fuels Natural Gas Price Surge: The Biggest Jump in 4 Years

US natural gas futures closed way up Tuesday as forecasts turned much colder over the long holiday weekend in the US, calling for a deep freeze to grip much of the country during the weeks ahead. While stockpiles of the fuel were slightly above normal earlier this month, the latest weather outlook signals sustained heating demand and possible production losses that would erase that surplus. Hedge funds raised their bearish positions on gas last week, leaving the market primed for a short-covering rally.