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Natural gas forward prices declined across the board from January 16 to 22 as traders looked past the cold snap to an adequately supplied market. February prompt prices fell by an average of 53.2 cents, with Rockies and Northwest hubs leading the drop.
Freeze-offs peaked at 8.9 Bcf during Winter Storm Enzo, about half the scale of January 2024's losses.
Forward curve weakness signals the market expects adequate supply through winter and summer, which keeps forward energy costs contained for feed mills. The limited freeze-off losses reinforce that outlook.
naturalgasintel.comAndrew Baker23 de jan. de 2025Após 104 eventos baixista de clima passados, Gás natural subiu em mediana -7,8% em 5 sessões (22% de alta; metade central de -14,8% a -0,8%), e -3,3% em 20.
Variações do benchmark de cada commodity desde o último fechamento antes do evento. As leituras históricas agregam eventos passados do mesmo tipo; descrevem o que aconteceu, não o que vai acontecer. Não é recomendação de investimento.
Forward prices fell as traders looked past the cold snap to an adequately supplied market, with freeze-offs about half the 2024 scale, which eased supply-risk premium.
