A stack from the Linden Thermal Power Plant can be seen in Linden, New Jersey.
Kena Betancur | See the press | Corbis News | Getty Images
Natural gas futures prices rose on Monday, hitting a new 52-week high following reports of colder-than-usual temperatures forecast for January.
February natural gas futures rose nearly 19% during the session after The Weather Co.'s updated forecasts. and Atmospheric G2 released on Sunday showed that next month's temperature forecast is the east is expected to be colder than averagespecifically from Florida to Maine, as well as some parts of the Great Lakes.
However, temperatures are expected to be milder than average across the West, according to the report. In particular, the “Four Corners” region – the area of the United States encompassing the southwestern corner of Colorado, the southeastern corner of Utah, the northeastern corner of Arizona and the northwestern corner of New Mexico – is expected to be the most above average.
The report also indicated that cooler temperatures in the East could peak mid-month and will likely be “well well below average” compared to the full-month forecast for the eastern United States. Despite this, it is still unclear how temperatures will continue in the eastern part of the country. Second half of January.
In a separate report, AccuWeather meteorologists said colder air could cause this establish a “turbulent pattern”, with areas experiencing “heavy snow and ice” for much of the first half of the month. They added that the decline would begin in the middle and second half of next week.
– John Kilduff of Again Capital said on CNBC's Monday “Squawk in the Street” that we may see a “freeze” of natural gas, which means disruptions in natural gas production flows.
“We're talking about (the) bone-chilling polar vortex weather that sent natural gas prices soaring this morning,” the company's founding partner said.
The February move in futures comes after natural gas – used to heat homes – has seen significant gains recently. Commodity prices rose by almost 9% last week and by about 58% this year.
Meanwhile, Brent crude oil futures rose 33 cents to $74.50 a barrel, while Intermediate from West Texas, USA crude rose 92 cents to $71.52 a barrel.