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US natural gas futures fell as storage rose 82 billion cubic feet in the week ending October 4, above expectations. Hurricane Milton reduced power demand in Florida as households lost electricity.
Natural gas ETFs lost 7.69% the previous week.
Ample supply combined with weather-related demand losses keeps natural gas prices under pressure. Feed input costs linked to energy are unlikely to move much from this alone.
etfcentral.comRony AbboudOct 14, 2024After 104 past bearish weather events, Natural Gas moved a median -7.8% over 5 sessions (22% higher; middle half -14.8% to -0.8%), and -3.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
