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US natural gas futures rose as much as 20% on Monday to a 52-week high after forecasts showed a colder-than-average January in the eastern US. The West is expected to be milder, while the Four Corners region is forecast to be the most above average.
Stormy patterns with snow and ice are also expected in the East.
Colder eastern weather lifts heating demand and draws down storage, supporting higher gas prices. Higher gas costs also feed into nitrogen fertilizer and processing energy costs.
cnbc.comSean ConlonDec 30, 2024After 221 past bullish weather events, Natural Gas moved a median +3.3% over 5 sessions (61% higher; middle half -5.2% to +14.0%), and -0.3% 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.
