North America gas weekly update: Prices erupt higher on impending arctic blast

After a record warm December, January is set to bring an arctic blast that might spill over into the deep South. Low temperatures in North Texas will be in the teens and potentially into single digits. Along with the significant ramp up of heating loads, concerns over production freeze offs and power constraints are growing. Not surprisingly, Henry Hub gas prices have erupted higher primarily on the prompt February contract. This weekly natural gas commodity report seeks to explore: How cold will it get in upcoming weeks? How high will weekly storage withdrawals rise? How much will the storage surplus contract?