Oil producers eye long road to recovery as Texas begins to thaw

After 15 past neutral weather events, Natural Gas moved a median -5.0% over 5 sessions (27% higher; middle half -11.3% to -0.9%), and +4.6% over 20.

• Feb 3, 2022Rystad Energy: This week’s gas and LNG market | LNG Industry-33.0%
• Jul 31, 2026US natgas prices little changed as hotter weather offsets record output and lower LNG flows — TradingView News-3.1%
• Mar 10, 2021ERCOT Tracker: Power, gas prices hit records during Feb. 14 winter storm-4.2%
• Oct 26, 2022U.S. natgas steady as mild weather offsets planned LNG export rise | Financial Post-5.1%
• Jan 23, 2025CIO sees a risk that natural gas prices could come under pressure | UBS Global-12.2%

After 40 past bullish weather events, Crude Oil (WTI) moved a median +1.6% over 5 sessions (63% higher; middle half -3.7% to +5.3%), and +6.1% over 20.

• Aug 28, 2020-Oil prices dip as producers, refiners avoid worst of hurricane | Reuters-3.6%
• Sep 12, 2024Oil rises 2% as storm batters US Gulf of Mexico production+5.3%
• Feb 12, 2021Record cold brings a windfall for small U.S. natural gas producers+1.6%
• Oct 15, 2024Prices of crops, oil bounce back from late summer lows | The Western Producer-5.8%
• Jan 5, 2018Oil And Gas Run Low As East Coast Sees Record Snowfall | OilPrice.com+2.9%

After 24 past bullish weather events, Crude Oil (Brent) moved a median +2.8% over 5 sessions (67% higher; middle half -1.9% to +5.2%), and +6.3% over 20.

• Aug 28, 2020-Oil prices dip as producers, refiners avoid worst of hurricane | Reuters-3.5%
• Sep 12, 2024Oil rises 2% as storm batters US Gulf of Mexico production+5.1%
• Feb 15, 2021Oil hits pandemic high as winter storm pushes demand and poses production risk+0.7%
• Jan 16, 2026Oil prices rise as supply risk remain in focus-0.3%
• Mar 1, 2021Texas freeze helps rival oil exporters like Saudi Arabia 'tremendously,' may influence OPEC decisions+5.5%