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Natural gas futures finished at their highest level since December 2022 after an Arctic blast across much of the US boosted heating demand and appeared to curb production. Oil futures posted modest gains on curtailed Russian supply and monitoring of talks to end the war in Ukraine.
Cold-driven gas demand raises energy costs for processors, while Russian supply curbs lift crude prices that feed into diesel and freight costs.
marketwatch.comWilliam WattsFeb 19, 2025After 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 40 past bullish weather events, Crude Oil (WTI) moved a median +1.6% over 5 sessions (63% higher; middle half -3.7% to +5.3%), and +6.1% over 20.
After 24 past bullish weather events, Crude Oil (Brent) moved a median +2.8% over 5 sessions (67% higher; middle half -1.9% to +5.2%), and +6.3% 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.
Arctic blast lifted heating demand and curbed production, pushing futures to the highest since December 2022 on the window end date.
