Winter Weather Fuels Rally in Energy Stocks and ETFs
As a brutal cold snap grips much of the United States, energy-related equities are defying the frost with sharp gains. Natural gas futures and associated stocks have surged amid forecasts of sub-zero temperatures and heavy snowfall across multiple regions.
Generac Holdings Inc., a leading manufacturer of backup power generators, saw shares jump more than 10% this week on concerns about potential grid failures. The U.S. Natural Gas Fund and ProShares Ultra Bloomberg Natural Gas ETF posted even more dramatic gains of 34% and 70% respectively since Monday.
Major energy producers including EQT Corporation, Expand Energy, and ExxonMobil have also climbed, though some gave back portions of their advances during Thursday's session. The severe weather pattern is expected to persist through the weekend, with wind chills potentially reaching -50°F in some areas.
