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March Nymex natural gas futures settled slightly higher at $2.882 despite record-breaking cold across the Lower 48. Spot prices retreated across most of the country, while forecasts pointed to February ranking among the coldest on record and possibly extending into March.
Prolonged cold that persists into March would increase heating demand and storage draws, supporting natural gas prices and energy costs for feed processors.
naturalgasintel.comFeb 9, 2021After 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.
