U.S. Natural Gas Prices Retreat After Rallying 117%
Market Intelligence Analysis
AI-PoweredU.S. natural gas prices have retreated after a 117% surge in five days, with prices currently at a four-year high of $6.60 per million British thermal units, following a period of frigid weather that caught traders off guard.
Market impact analysis based on neutral sentiment with 70% confidence.
Article Context
U.S. natural gas prices dipped today amid profit-taking by traders, after soaring by over 117% in the five days to Monday, Bloomberg has reported, noting the benchmark jumped by 30% on Monday alone. Last week, gas prices went up by as much as 70% amid frigid weather that apparently took gas traders both in the United States and Europe by surprise. This surprise led to frantic short-covering and position exits at a hefty loss. Currently, natural gas is trading at over $6.60 per million British thermal units, which is the highest in four years and…
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