US natural gas futures surged 8% to $3.60 per MMBtu on Monday, spurred by extreme winter weather forecasts across North America and Europe.
The anticipated cold wave has raised concerns over heightened heating demand and potential energy shortages. Uncertainty over Russian gas supplies to Europe has added to the price volatility.
As of 3:06 am ET, US natural gas futures for December contracts soared 7.27% to sell at $3.6120 per million British thermal units.