Loading…
Australia's Macquarie reported large trading windfalls from the U.S. winter freeze. Real-time Texas gas prices rose more than 300 times during the storms, and power prices reached $8,800/MWh in some areas.
Consumers in Texas face very high utility bills as a result.
The extreme volatility shows how sharply weather-driven supply shocks can spike energy prices, but the story itself has limited direct impact on feed commodity prices.
reuters.comPaulina DuranFeb 22, 2021After 342 past weather events, Natural Gas moved a median -0.7% over 5 sessions (47% higher; middle half -11.0% to +9.6%), and -1.2% 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.
