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Cold Snap Sparks Natural Gas Surge
21 Jan
Summary
- Natural gas market experienced a significant jump on Tuesday.
- A severe cold snap is forecast across the northern US.
- Prices rose nearly 25% by the time New York traders entered.
The natural gas market experienced a notable jump on Tuesday due to a severe cold snap affecting the northern United States. This icy weather pattern is expected to persist for approximately a week, significantly increasing demand for heating fuels.
By the time New York traders engaged with the market, natural gas prices had already risen by nearly 25%. While this increase is from a low base, it reflects a typical winter phenomenon where cold spells can trigger sharp upward movements in natural gas prices. Historically, except for periods of geopolitical tension, winter seasons often produce such strong price rallies.
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