NYMEX NatGas Futures Rocketship: Up 57% in 2 Days, Break $5 Today?

For the second day in a row, the "front month" NYMEX natural gas futures contract was firmly attached to a rocketship. Yesterday, the NYMEX contract for February delivery gained 96.80 cents per million British thermal units (MMBtus), or 24.78%, to close at $4.8750. That's up $1.772 (or 57%) over the last two trading sessions. It is the largest two-day dollar gain since Thursday, Jan. 27, 2022 (four years!). Early trading this morning was hovering between $5.35 and $5.50. It's all to do with the current Arctic freeze in the eastern half of the country and a massive snowstorm due this weekend. But, bear this in mind: What goes up must come down.

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