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US natural gas for December delivery spiked 20% to $4.931 per MMBtu on a colder winter outlook, then plunged 19% the next day. The EIA reported a 39 Bcf storage injection, above the five-year average for this time of year, as production surged.
Heating demand forecasts drive natural gas volatility, which affects grain drying and feed processing energy costs. Strong storage builds point to ample supply and bearish pressure on gas prices.
wolfstreet.comNov 15, 2018After 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.
Documents the spike and the roughly 19% plunge on Nov 15-16, which set up the Nov 19 rebound as a volatile reversal. The above-average storage injection and surging production cut the other way.
