# WTF Just Happened with Natural Gas? | Wolf Street

> 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.

- Date: 2018-11-15 · published 2018-11-15T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/11335-wtf-just-happened-with-natural-gas-wolf-street
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

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.

## Read by commodity

- NATGAS: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| NATGAS | 2018-11-19 | 1 | +9.1% | 3.4 | 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. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2018-12-17 | [US Natural Gas Plunges, Unwinds Spike that Blew Up Hedge Fund \| Wolf Street](https://feedsoft.ai/events/61750-us-natural-gas-plunges-unwinds-spike-that-blew-up-hedge-fund-wolf-street.md) | -3.8% | -9.9% |
| NATGAS | 2018-02-01 | [Why Natural Gas Prices Just Tanked \| OilPrice.com](https://feedsoft.ai/events/7448-why-natural-gas-prices-just-tanked-oilprice-com.md) | -14.0% | -15.1% |
| NATGAS | 2022-10-18 | [With Demand Disappointing, Natural Gas Futures Prices Tumble Further](https://feedsoft.ai/events/12793-with-demand-disappointing-natural-gas-futures-prices-tumble-further.md) | -17.2% | +0.7% |
| NATGAS | 2017-01-03 | [Warm January Outlook Sends Natural Gas ETFs Reeling](https://feedsoft.ai/events/11911-warm-january-outlook-sends-natural-gas-etfs-reeling.md) | -16.0% | -13.2% |
| NATGAS | 2024-01-16 | [Natural Gas Prices Give Back Pre-Storm Gains](https://feedsoft.ai/events/32298-natural-gas-prices-give-back-pre-storm-gains.md) | -63.9% | -73.3% |

## Sources

- wolfstreet.com: https://wolfstreet.com/2018/11/15/natural-gas-spike-plunge/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.