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NGI's weekly spot national average for October 15-18 fell 35.5 cents to $1.720 per mmBtu. Cooler weather across much of the country cut air-conditioning power demand, and hurricane recovery continued in the Southeast.
Pipeline developments added pressure at Northwest and Texas hubs.
Weaker weather-driven demand and pipeline-driven regional pressure push cash gas lower. Feed commodities are only indirectly affected through energy and fertilizer costs.
naturalgasintel.comJodi ShaftoOct 18, 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.
