Natural gas is one of those commodities that’s rarely discussed except in connection with the weather or inflation. Like oil and gas, it could play an important role in determining what action the Fed takes over the coming months.
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Texas, the energy capital of the US, is running short of energy. The cold snap is breaking records throughout the state, with temperatures so low that many wind and water turbines are frozen and not able to produce energy. Refineries are shut down. As of last night, over 3.5 million Texans are without power.
Not surprisingly, oil, gasoline and especially natural gas prices have shot higher.
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