US energy markets brace for a freezing January

Five charts to start your day

A major polar vortex is poised to plunge large parts of the US into the coldest January in over a decade, sending energy prices spiralling. Natural gas has jumped 14 percent in the past month, and heating oil is up 5 percent in just a week. Take a look at the chart below from the Financial Times. While households typically expect rising utility bills as winter sets in, this year’s Arctic blast could bring below-zero temperatures as far south as the Gulf Coast – a rare occurrence that promises further market volatility.