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Natural gas forward prices declined across the board from January 16 to 22 as traders looked past the cold snap to an adequately supplied market. February prompt prices fell by an average of 53.2 cents, with Rockies and Northwest hubs leading the drop.
Freeze-offs peaked at 8.9 Bcf during Winter Storm Enzo, about half the scale of January 2024's losses.
Forward curve weakness signals the market expects adequate supply through winter and summer, which keeps forward energy costs contained for feed mills. The limited freeze-off losses reinforce that outlook.
naturalgasintel.comAndrew Baker23 ene 2025Tras 104 eventos bajista de clima pasados, Gas natural se movió una mediana de -7,8 % en 5 sesiones (22% al alza; mitad central entre -14,8 % y -0,8 %), y -3,3 % en 20.
Variaciones de la referencia de cada materia prima desde el último cierre antes del evento. Las lecturas históricas agrupan eventos pasados del mismo tipo; describen lo ocurrido, no lo que ocurrirá. No es asesoramiento de inversión.
Forward prices fell as traders looked past the cold snap to an adequately supplied market, with freeze-offs about half the 2024 scale, which eased supply-risk premium.
