%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment Natural gas prices in the U.S. have surged 75% in three days and hit their highest level since 2022 as Arctic cold sweeps across North America. Nearly 200 million people in the U.S. and Canada are dealing with snow and ice as record-breaking cold sweeps across central and eastern regions of the continent. The low temperatures are leading to a rise in natural gas use to heat homes and disrupting gas production. They're also forcing some commodities traders to cover bearish short positions. Analysts characterize the current situation as a "winter-driven squeeze" in natural gas prices, sending them surging upwards. However, those same analysts note that soaring natural gas prices are bad news for consumers grappling with rising energy bills. Gas for February delivery rose 8.7% in the last 24 hours to $5.301 U.S. per million British thermal units, its highest level since December 2022. Severe cold has also lifted natural gas prices in Asia and Europe over the past week. Europe is preparing for another deep freeze in the next few days. While the price surge might be hard on consumers, it is benefitting natural gas producers and liquefied natural gas (LNG) companies. Stocks of companies such as Cheniere Energy (NYSE: $LNG ) have risen more than 5% over the past week as natural gas prices spike.