US natural gas futures surged over 50% in two days, on track for the largest weekly gain in three decades. A storm is set to hit the US, bringing dangerously cold temperatures that could disrupt production. Weather models predict increased demand for heating, with prices climbing 57% this week.

The frigid weather is expected to lead to a near-record withdrawal of gas from storage, causing a deficit to the five-year average. The blast of Arctic air will impact over 150 million people across two dozen states, with EQT, the second-largest US gas producer, preparing for production challenges during the storm.

Contracts for gas delivery soared, with cash prices at the Henry Hub trading point surging. Rising gas prices can boost coal consumption as power generators seek to control costs. Cold weather is causing energy prices to surge globally, with markets monitoring for potential disruptions to supply chains.

Read more at Yahoo Finance: Natural Gas Prices Soar as Dangerous Freeze Takes Hold Across Massive Swath of the US