Natural Gas
a.k.a. Nat gas, NG
A fossil fuel used for heating and power generation, and one of the most violently volatile commodities traded.
Natural gas heats homes, runs power stations and feeds factories. It is traded as futures, with the US benchmark priced at Henry Hub in Louisiana and big European and Asian prices too. Because gas is hard to store and ship, prices can lurch wildly with a cold snap, a heatwave or a pipeline outage.
It matters for currencies of big exporters and importers. Europe's 2022 gas crisis, when prices exploded after supplies from Russia were cut, hit the euro hard. Traders sometimes call gas "the widowmaker" for how quickly it can wreck the unwary.
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