NYC Is Under Two Feet Of Snow — Bettors Are Pricing In A Historic Blizzard, US Natural Gas Spikes

Benzinga_recent_news02-23 22:59

Prediction market traders on Polymarket are nearly certain New York City’s weekend snowfall crossed the 20-inch mark. The 20+ inch outcome now sits at 56%, with over $439,000 in volume on the entire ...

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The 18–20 inch bracket has collapsed to 36%, and 16–18 inches is down to just 3%.\nA 20+ inch reading at Central Park has only been recorded six times since 1869, the last being Blizzard Jonas in January 2016, which still holds the all-time record at 27.5 inches.\nMarkets are expected to run normally this morning. \nA separate Polymarket event on whether the NYSE shuts down for electronic trading entirely is priced at essentially 0%\nThe physical floor is predicted to open late, a Polymarket on the trading floor being delayed sits at 83%. A delayed or closed physical floor won’t halt the markets; the exchange will simply pivot to fully electronic trading\nU.S. natural gas futures for March delivery jumped as much as 6.8% over the weekend as the storm boosted heating demand across the Northeast, though gains have since faded as the storm begins to taper.\nIt’s the second major weather-driven surge of the winter, Henry Hub prices spiked to record highs during Winter Storm Fern in January before retreating. \nWith storage levels still running below the five-year seasonal average heading into this storm, traders will be watching whether prices hold or fade once the snow clears.\nEQT Corporation (NYSE:EQT), the largest U.S. natural gas producer, may be worth watching. \nMost cancellations were concentrated at JFK, LaGuardia, Newark, Philadelphia, Logan and Reagan National.\nDespite the chaos, most major airline stocks were trading higher in premarket, likely buoyed by a dip in oil prices Monday morning as markets weighed U.S.-Iran nuclear talks and fresh tariff uncertainty.\nDoorDash (NASDAQ:DASH) also suspended its NYC operations Sunday night as Mayor Zohran Mamdani’s travel ban came into effect, shutting all streets, highways and bridges through midday Monday.\nSnow is expected to begin tapering late morning, with the storm moving out by the evening, though winds may still gust 50-60 mph through the evening.\nImage: Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2613387127","isCrawlerRequest":true}