US natural gas futures extended Friday's rally, surging above $4 mmbtu on Monday, with contracts trading around $4.20 on Tuesday morning amid rising expectations of early winter heating demand and an unplanned outage at the Freeport LNG export facility in Texas.

Meteorologists are citing new weather models showing an unusual cold blast for early next week that will blanket parts of the Great Lakes, Ohio Valley, Mid-Atlantic, and Northeast, with temperatures cold enough for accumulating snow in some areas.

Legendary meteorologist Jim Cantore wrote on X that parts of the eastern half of the US will experience "Arctic Air" by Monday and "everyone gets to feel the chill even in FL."