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A series of winter storms was lifting US natural gas demand, with futures up 19.2% from the end of January as of February 13. Storage inventories had fallen below the five-year average.
A 10% tariff on Canadian energy imports was announced but its implementation was paused until early March.
Below-average storage and storm-driven heating demand tighten supply and support gas prices, while the possible Canadian tariff adds upside risk to US gas costs.
aga.orgFeb 14, 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.
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.
Winter storms lifted demand, storage fell below the five-year average and futures were up 19% from end-January, showing the tightening fundamentals behind the rally.
