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US Natural Gas and Heating Oil Prices Jump on Cold Snap Forecast

  • Natural gas prices in the U.S. Jumped over 20% this week due to forecasts of a cold January, the coldest in a decade, raising supply concerns.
  • Europe is also facing potential price increases as Russian gas giant Gazprom plans to halt deliveries through Ukraine, affecting supply routes.
  • Analysts predict that increased heating demand during the cold snap could lead to higher consumer bills, especially if the cold persists.
  • Phil Flynn warned that extreme cold could disrupt U.S. Natural gas production and storage, leading to additional price pressures.
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