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Bloomberg reports that US and European gas traders who bet on a mild winter are now exposed as a severe freeze grips much of America. The mispositioning is reverberating across global gas markets.
Short-covering and a sudden shift to tight supply expectations push gas prices higher, raising energy and nitrogen fertilizer costs for grain and feed producers.
bloomberg.comPriscila Azevedo RochaJan 24, 2026After 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.
