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Bloomberg reports the US faces weeks of abnormally warm weather through late October, with temperatures in the 70s F or higher across much of the country. Commodity Weather Group expects energy demand to drop to record lows for two weeks.
Natural gas futures have already fallen on expectations of weaker heating demand.
Expected record-low heating demand weighs on natural gas prices. The impact on feed markets is indirect, through energy and input costs.
rigzone.comOct 18, 2024After 104 past bearish weather events, NATGAS 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.
