US natural gas futures rose nearly 10% on Tuesday, December 23, to around $4.365/MMBtu, their biggest intraday gain since late October. Traders expected another cold air mass to move into the eastern half of the Lower 48, with heating degree days forecast well above normal and daily withdrawals possibly reaching about 30 Bcf/d.
Expected surge in heating demand and storage withdrawals tightens supply, supporting gas prices and raising energy costs for gas-dependent feed processing.
After 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.