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US natural gas futures climbed about 4% to a seven-week high on forecasts of extremely cold weather that would push demand to a record. A winter storm had already knocked out power to over 302,000 homes and businesses in nine states.
Record heating demand and possible freeze-offs tighten supply and support gas prices, which feed into energy and fertilizer costs.
brecorder.comReutersJan 10, 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.
