Natural gas futures are trading nearly 12% higher today on new forecasts pointing to a frosty mid-February, further highlighting concerns about a shortage of the energy commodity. Gas production in Oklahoma is down 17% today, and frosts are also threatening production in Texas. According to Commodity Weather Group, the frost could last from 12 to 16 February. The blast of cold could reduce gas production, which is already at record export levels.
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Gas futures (NATGAS), D1 interval. Prices of the commodity are approaching the peaks of 26 November 2021. Concerns about the conflict between Russia and Ukraine and weak weather forecasts in February may support the demand side of gas. However, it is worth remembering that the situation is dynamic, so investors should carefully observe the current situation in the world. Source: xStation 5
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