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Severe winter weather hitting the eastern U.S. was expected to spike short-term gas and power prices, with Boston wholesale gas up more than 80 percent from the prior day. U.S. gas demand was at its highest in over a decade while production fell 6 percent year over year due to wellhead freeze-offs in the Permian and Bakken.
Demand at multi-year highs combined with freeze-off production losses tightens regional supply and supports gas and power prices.
upi.comDaniel J. GraeberJan 4, 2018After 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.
