Loading…
Natural gas spot prices jumped more than 400% as a deep freeze was forecast to hit Texas. The cold was expected to sharply raise demand for the heating fuel.
Expected heating demand in a supply-tight cold snap pulls gas prices higher, which raises the cost of gas-fired power and nitrogen fertilizer inputs for feed producers.
bloomberg.comElizabeth ElkinJan 12, 2024After 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.
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.
