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Natural gas fell sharply in early November after the November contract settled at $2.764 per MMBtu and the December contract lost nearly 10% in its first four trading days. Lingering summer-like temperatures and forecasts for above-normal temperatures through November drove the decline.
Storage was 4.9% above the five-year average, and end-of-year storage was projected above 4.0 Tcf.
A delayed heating season and large projected storage levels point to continued injections and weak prices into winter. This bearish outlook also affects electricity markets that rely on gas-fired generation.
burtonenergygroup.comKristenM3 nov 2016Tras 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.
