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US natural gas and power prices hit multi-year highs ahead of extreme cold expected to bring record gas demand. Freezing wells were also expected to cut gas supplies.
Record demand combined with freeze-off supply losses tightens the gas balance and lifts prices, raising energy and fertilizer costs for feed makers.
reuters.comScott DisavinoJan 12, 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.
