Winter 2026-2027. Historic Potential

[Stormchaserchuck1]

With inflation, I've figured out the following regarding Energy trading and the coming Winter:

Natural Gas price >$5.00, more likely -NAO Winter

Natural Gas price <$5.00, more likely +NAO Winter

Natural Gas price >$10.00, very high likelihood of -NAO Winter

Natural Gas price <$2.50, very high likelihood of +NAO Winter

Natural Gas is currently trading at $3.13. December '26 contract, $4.01. March '27 contract, $3.21. 

Top 10 Most positive Natural Gas Winters since 1996, relative to inflation trend:

^ Average price per Winter of those years: ~$6.00

Top 12 Most negative Natural Gas Winters since 1996, relative to inflation trend:

^ Average price per Winter of those years: ~$2.60

In January 2026, the price of NG jumped from $3.12 to $7.40 as a really cold pattern set in. This was forecasted ahead of time by the CPC with no market reaction until it was days to weeks away. This cold period was associated with the 4th longest on record (since the early 1900s) that Baltimore had more than 4" of snow on the ground. The price then collapsed back to $3.40 in early February, and $2.80 by late February, and then March 2026 ended up being the warmest month relative to average on record for the CONUS, all time. There is a little lead in the NG price, but also sometimes weather patterns are a surprise. 

[Stormchaserchuck1]

Deep -PDO continues (time sensitive)