Natural gas prices hit $6 as Winter Storm Fern brings extreme cold

After 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.

• Jan 22, 2026Natural gas prices suffer historic spike as extreme winter storm looms | CNN Business+1.4%
• Jan 20, 2026Natural gas prices soar as cold snap blasts across the U.S.+1.4%
• Jan 21, 2026Natural Gas Prices Soar as Winter Storm Is Set to Drop Snow, Ice Across Massive Swath of the US - Bloomberg+1.6%
• Jan 24, 2026Natural Gas Market in `Panic Mode' After Mild Winter Bets - Bloomberg+1.6%
• Feb 23, 2025US natural gas prices surge as La Niña replaces El Niño – Chemicals and the Economy-0.3%

After 13 past neutral weather events, Crude Oil (WTI) moved a median +2.3% over 5 sessions (62% higher; middle half -0.9% to +4.7%), and +6.1% over 20.

• Nov 1, 2024Natural Gas Futures Extend Drop on Delayed Winter Arrival, Golden Pass LNG Project+4.5%
• Jun 30, 2020US and European natural gas prices rise with Gulf Coast LNG futures as demand picture improves+2.3%
• Feb 15, 2021Higher diesel prices likely as freeze shuts down Gulf Coast refineries - FreightWaves+3.6%
• Jan 26, 2026When the US freezes, the global LNG market catches a cold | Reuters+6.4%
• Jun 30, 2022Peak hurricane season looms with no room for U.S. refining outages | Reuters-6.3%