Natural gas futures surged the most among major US-traded commodities as hot weather forecasts and a looming rail strike added to concern about tight supplies ahead of winter.
Gas for October delivery soared as much as 11.5%, the biggest one-day gain since July 27. Prices for the heating and power-generation fuel have risen for five straight days, the longest winning-streak since May.
A lack of rail transportation could slash coal deliveries by the equivalent of roughly 17 billion cubic feet a day, or about 17% of US daily gas production, according to Enrique Gonzalez, a BloombergNEF analyst.
Soaring European gas prices also added momentum to US gas after EU policymakers unveiled a plan to deal with the energy crisis that shelved the idea of price caps.