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A wind shortfall pushed European electricity generation from gas to its highest level in three years. This helped drive a rally that lifted benchmark European gas prices more than 15% year-to-date.
Higher European gas prices raise nitrogen fertilizer production costs and support urea prices, while also lifting energy costs across the feed and processing chain.
reuters.comGavin MaguireFeb 13, 2025After 221 past bullish weather events, NATGAS moved a median +3.3% over 5 sessions (61% higher; middle half -5.2% to +14.0%), and -0.3% over 20.
After 30 past bullish weather events, UREA moved a median +1.4% over 5 sessions (67% higher; middle half -0.3% to +1.6%), and +9.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
