Having collapsed to record lows last week, NatGas futures have soared almost 40% as record warm temperatures in the Northeast (and a record glut) have given way to forecasts of a "big weather pattern change" in January.
As The European Centre for Medium-Range Weather Forecasts notes, January will see a huge flip in temperatures compared to December...
From 'Hot' to 'Not'
(Click to enlarge)
h/t @DanLeonard_wx
And it appears February Nattie is pricing that demand in...(Click to enlarge)
In fact, as WLKY reports, in past El Ninos that peaked early like this year and had the core the warm water in the Pacific out in the central part of the ocean... like this year... the last half of winter was much colder than the first half of winter 90% of the time.
Bye Bye Q1 GDP!
By Zerohedge
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