Power consumption on the PJM Interconnection grid approached record winter levels on Thursday as extreme cold swept across key U.S. population centers in the Midwest and Mid-Atlantic, with forecasters warning of another Arctic front this weekend. Elevated heating and electricity needs are supporting expectations for stronger demand in the energy complex, with benchmark U.S. crude Oil – US Crude and Natural Gas both sensitive to the prospect of sustained weather-driven consumption and potential strain on fuel supply logistics.
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Over the past month, Oil – US Crude has advanced about 10.82%, reflecting tighter balances and weather-related demand, while Natural Gas has surged roughly 24.68% as heating load intensifies and storage draws accelerate. On a short-term basis, one-day technical indicators on TipRanks point to a Buy signal for Oil – US Crude and a Buy signal for Natural Gas, suggesting near-term momentum remains positive amid the current cold spell. Investors can explore more updates, prices, and analysis across global markets at Commodities.