US Natural Gas futures for Feb delivery topped $6 for the first time since 2022, back when European demand for US nat gas was booming after it lost supplies from Russia following the Russia-Ukraine invasion.
The February contract reached as high as $7.439, before paring gains to hover around $6.60 as of today at 17:00 SGT.

- This follows a 70% rally last week
The Feb contract expires on Wed, meaning liquidity is thin, with Open Interest for Feb contract at 18,400 (see below) while Open Interest for the March contract is around 346,000.

This comes amid a winter storm in the US that is estimated to have shutdown ~12% of US nat gas production as the cold weather has frozen pipelines and choked off supply.
- Companies such as Goodyear Bayport, Exxon Mobil, and Celanese corp have shut down their plants due to the weather
Could we see more volatility ahead for Natural Gas Futures?
Take a view via the NYMEX Micro Henry Hub Natural Gas Futures (MNG) Futures at USD0.98* now. 立即了解详情!
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