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U.S. natural gas futures settled slightly lower on Wednesday after hitting their highest since December. LNG exports climbed and forecasts called for hotter-than-normal weather through late August.
Power outages from Hurricane Isaias temporarily weighed on demand.
Persistent heat forecasts keep gas demand firm, which supports fertilizer and ethanol input costs for feed markets. Analysts still expect inventories to reach record levels by October, which limits the upside.
brecorder.comReutersAug 6, 2020After 15 past neutral weather events, Natural Gas moved a median -5.0% over 5 sessions (27% higher; middle half -11.3% to -0.9%), and +4.6% 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.
