US natural gas futures edge down in volatile trading after hitting near two-week high

Prices rose more than 11 per cent on Tuesday, marking the contract's sharpest daily rise since October 30. Meteorologists forecast a slight drop in temperatures nationwide through January 8, with heating degree days increasing from 358 on Tuesday to 377 on Wednesday, still below the normal level of 447, but forecasters anticipate colder weather in the days ahead.

"The market's a little on edge and that's why it's trading up the last day or so," said Thomas Saal, Senior Vice President for Energy Trading at StoneX Financial, adding that lower volumes due to the Christmas holiday have contributed to some volatility.