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Prompt-month natural gas futures fell on Wednesday, with the November contract settling at $2.367 per mmBtu, down 13.1 cents. NGI's spot national average slid to $1.845 as demand softened after a brief cold snap.
Forecasters expected warmer-than-normal conditions to dominate the outlook.
A warmer outlook trims heating demand and pushes gas prices lower. The effect on feed commodities is indirect, mainly through energy and fertilizer costs.
naturalgasintel.comJodi ShaftoOct 16, 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.
