US natural gas futures rose more than 4% to around $3.17 per MMBtu, extending gains from the previous session, as cold weather forecasts for the Northeast increased short-term heating demand. A powerful winter storm has disrupted flights and closed schools, boosting near-term consumption for both heating and power generation. At the same time, pipeline flows to US LNG export plants climbed to 20.2 bcfd, roughly 24% higher than a year ago and near all-time highs, supporting the market amid ongoing tight supply conditions. Despite the intraday gains, traders remain cautious as warmer-than-normal temperatures are expected across most of the country over the next two weeks, while US natural gas production reached a record earlier this month, which could cap prices in the near term. Traders are now focused on storm developments, LNG export volumes, and production trends.
