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Natural gas futures fell further on October 18 as a cold snap across the Lower 48 failed to lift demand as expected. The November Nymex contract settled at $5.745/MMBtu, down 25.4 cents, bringing the two-day loss to 70.8 cents despite a large drop in production tied to maintenance.
Weaker-than-expected heating demand despite cold weather signals a loose supply balance, pressuring natural gas prices. Lower energy costs ease input pressure on feed manufacturers.
naturalgasintel.comLeticia Gonzales18 oct 2022Tras 104 eventos bajista de clima pasados, Gas natural se movió una mediana de -7,8 % en 5 sesiones (22% al alza; mitad central entre -14,8 % y -0,8 %), y -3,3 % 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.
Weak demand despite cold weather led to a further two-day loss of 70.8 cents, which is part of the selloff.
