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Henry Hub natural gas prices fell more than 4.6% during a cold spell tied to the 'bomb cyclone' that brought snow to the Northeast and freezing temperatures from Georgia to Maine. Texas set a new winter peak electricity demand record of 62,855 MW, exceeding the prior winter record by more than 3,200 MW.
Strong weather-driven demand did not lift gas prices because a large storage draw had already been priced in and supply remained ample. Traders are signaling that heating-driven demand alone is not enough to reverse the bearish trend in natural gas.
subscriber.politicopro.comJan 5, 2018After 104 past bearish weather events, Natural Gas moved a median -7.8% over 5 sessions (22% higher; middle half -14.8% to -0.8%), and -3.3% 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.
