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Henry Hub natural gas prices rose to a high of $6.2/MMBtu last week after temperatures from December 24, 2017 to January 3, 2018 fell well below the 30-year average. EIA data showed total U.S. gas consumption reached 150 Bcf, topping the 2014 record of 143.3 Bcf.
Natural gas is a key input for nitrogen fertilizer producers, so the spike raises production costs and can support urea and other nitrogen fertilizer prices.
marketrealist.comAdam JonesJan 8, 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.
After 30 past bullish weather events, Urea moved a median +1.4% over 5 sessions (67% higher; middle half -0.3% to +1.6%), and +9.1% 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.
