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US natural gas futures extended losses after the EIA reported a 111 billion cubic foot storage build for the week ending October 14, above the 105 bcf estimate. Prices had collapsed nearly 22% during the month, and LNG tankers were reportedly idle outside the Freeport LNG facility.
A larger-than-expected storage injection signals ample supply and weak near-term demand, pressuring gas prices lower. Lower gas prices reduce energy and fertilizer costs for feed production.
fxdailyreport.comDaffa Zaky21 oct 2022Tras 62 eventos bajista de informe pasados, Gas natural se movió una mediana de -3,0 % en 5 sesiones (42% al alza; mitad central entre -7,6 % y +4,6 %), y -0,5 % en 20.
Variaciones de la referencia de cada materia prima desde el último cierre antes del evento. Las lecturas históricas agrupan eventos pasados del mismo tipo; describen lo ocurrido, no lo que ocurrirá. No es asesoramiento de inversión.
Dated at the end of the window, a larger-than-expected 111 bcf storage build and idle LNG tankers at Freeport (weaker export demand) pushed prices lower directly.
