The ProShares UltraShort Bloomberg Natural Gas ETF (KOLD) closed at $42.13 on January 2nd, down 1.43% as U.S. natural gas futures rose 0.55% to $3.65, driven by increased LNG export flows and forecasts for colder weather. Meteorologists predict a shift to colder-than-usual temperatures in the U.S. from January 6-17, boosting heating demand. The expiration of a deal allowing Russia to pipe gas to Europe across Ukraine has also led to a rise in European gas prices, further supporting U.S. futures. The amount of gas flowing to the eight major U.S. LNG export plants has increased, contributing to upward pressure on natural gas prices. Natural gas prices surged to their highest level in nearly two years, with prices up 24% at one point, as energy markets brace for frigid weather that could simultaneously boost demand and curb supply.