Loading…
Blizzard conditions across the U.S. Northeast pushed spot natural gas to a record $175 per MMBtu in New York, about 60 times the going rate. That compares with U.S. gas futures averaging $2.93 on NYMEX that winter.
Extreme weather-driven demand for heating fuel sent cash prices far above futures, showing how sharply short-term supply tightness can spike prices. The effect is largely a short-term cash-market move rather than a sustained futures rally.
daily.energybulletin.orgTom WhippleJan 6, 2018
bloomberg.comNaureen S MalikJan 4, 2018After 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.
