10 January 2023 | Other

Gas in the U.S. grew by 5% after the 50% tumble over three weeks

On Monday, the growth of gas prices in the U.S. was more than 5%. It was an attempt to compensate for the 50% three-week loss.

here was the final amount in the February gas contract defined during the trading. It was $3.91 per metric million British thermal units (mmBtu) with 20 cents (5.4%) increase. Before this, the gas prices reached the peak of $4.123 per mmBtu. 

The 50% price drop was caused by the abnormally warm weather at the end of December and early January. As a result, European and American markets had sufficient gas reserves.

Weather data shows that the fall in gas prices will continue. This happens amid weather reports indicating possible warming in the U.S. until at least January 12th.

The U.S. Energy Information Administration provided the data on reserves in gas storage facilities.

Such a situation is usually considered a bullish factor for prices. Recent market-value appraisals might be inaccurate due to abnormal warming at the start of winter 2022/23.

Company MarketCheese
Period: 03.07.2026 Expectation: 2000 pips
Selling GBPUSD as BoE kept rates unchanged
Yesterday at 11:02 AM 36
Brent sell
Period: 26.06.2026 Expectation: 500 pips
Brent crude plunges deeper amid US-Iran peace deal
Yesterday at 10:06 AM 30
Period: 19.07.2026 Expectation: 1000 pips
Invest in AUDCAD up to 1.00000
Yesterday at 09:34 AM 18
Gold sell
Period: 30.06.2026 Expectation: 13000 pips
Gold sell-off targets $4,000
Yesterday at 09:04 AM 30
Period: 31.12.2026 Expectation: 11000 pips
Invest in Ethereum if it breaks through $1,850
Yesterday at 08:55 AM 16
Period: 26.06.2026 Expectation: 1150 pips
USDCAD hits 14-month highs on resilient US economy
Yesterday at 08:35 AM 14
Go to forecasts