The Commodities Feed: Have US Natural Gas Prices Peaked?
US natural gas prices surged nearly 29% to $6.80/MMBtu, driven by a severe winter storm impacting production and increasing heating demand. Spot prices briefly exceeded $30/MMBtu. US LNG plants reduced gas intake by 48%, affecting exports to Europe, where storage levels are declining. Oil prices fell slightly, influenced by the storm's impact on output and refinery operations. Silver prices soared over 12% to a record above $110/oz, while gold also rallied above $5,100/oz, supported by Fed rate cut expectations and geopolitical risks.
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