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The Commodities Feed: Natural gas and precious metals rally amid weather and geopolitical threats
US natural gas prices continue to rally, with Henry Hub breaking above $6/MMBtu and trading to its highest level since late 2022. This comes as a winter storm hits the US, with nearly half of all states declaring emergencies. The extreme conditions will boost heating demand and put energy infrastructure at risk. Bloomberg New Energy Finance (BNEF) estimates that US natural gas production fell more than 11bcf/d over the last 5 days. However, while there will be stronger heating demand and supply hits, industrial demand could come under pressure, with some industrials reducing or temporarily halting operations due to ... (full story)