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Natural gas surged to 60 times its normal price in the U.S. Northeast as a blizzard boosted heating demand, with New York spot reaching a record $175 per MMBtu. Electricity prices also climbed 126% to $273.23 per megawatt-hour, and the storm cut power to more than 70,000 homes and businesses.
Limited pipeline capacity into Northeast markets keeps regional gas and power prices elevated, raising energy costs for feed and processing plants in the region.
gulftime.aeAdminJan 6, 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.
