Natural Gas February Contract Sees ‘Wild Expiration’ as Prices Rise Almost $2 – Mexico Spotlight

U.S. natural gas futures prices key to the Mexico market soared this week on the back of colder forecasts and rising geopolitical tension in Europe.

On Thursday, the expiring February New York Mercantile Exchange gas futures contract went out with a bang. It surged briefly above $7.00/MMBtu before settling at $6.265, up almost $2.00 on the day. March gained 24.7 cents to $4.283.

“What a wild expiration” for February contracts “along with wild weather trends,” NatGasWeather said Thursday afternoon. “Tonight’s weather trends will again be closely watched by the natural gas markets as they prepare for the weekend break and where it will certainly be a dangerous weekend to hold.”

EBW Analytics Group noted earlier in the week that the expiring front-month gas contract...