00:00C'est Benzinga, bringing Wall Street to Main Street.
00:03Natural gas markets swung shit.
00:05Sharply after months of mild weather gave way to severe cold across the United States and Europe.
00:10Catching traders positioned for falling prices off-guard, according to Bloomberg.
00:15Natural gas futures surged 70% in the U.S. and 30% in Europe.
00:20As worsening cold forecasts and geopolitical tensions upended traders,
00:25who had been positioned for falling prices.
00:27Cold weather in U.S. gas-producing regions
00:30threatened to freeze pipelines while traders scrambled to cover short positions.
00:35The rally underscored the global impact of U.S. price volatility as the country has become
00:40the world's leading LNG exporter.
00:43Tight storage, rising...
00:45...exports, geopolitical tensions, and algorithmic short covering amplified the
00:50surge pushing U.S. futures to $5.275 per million BTU by...
00:55...by week's end.
00:56For all things money, visit Benzinga.com.
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