The NATGAS contract is up nearly 9% during today’s session, driven by rising uncertainty in the energy market following Canada’s retaliatory tariff response against the U.S. Ontario will impose a 25% export tax on electricity supplied to 1.5 million homes in Minnesota, Michigan, and New York, in response to President Trump’s tariffs, according to Doug Ford, the Premier of Ontario.
This development is adding to market concerns, particularly as the East Coast has recently experienced lower-than-average temperatures. While milder conditions were observed last week, the sudden spike in energy prices is raising fears that a potential return of colder weather could drive up domestic U.S. demand for natural gas, fueling the current price surge in NATGAS.
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