# Daily Natural Gas Market Update  10-29-24

> Spot natural gas prices fell as mild forecasts for the rest of October and early November reduced heating demand, while output rose. The November contract settled at $2.309 and December at $2.863, after a 6% drop in crude oil on easing geopolitical risk. LNG feedgas recovered near 14 Bcf/d as maintenance wound down.

- Date: 2024-10-29 · published 2024-10-29T12:00:00.000Z
- Category: weather · region US · magnitude low
- Page: https://feedsoft.ai/events/11713-daily-natural-gas-market-update-10-29-24
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Expected above-normal storage injections and warm weather point to softer US gas prices, while rising LNG feedgas provides some offset that limits the downside.

## Read by commodity

- WTI: bearish ▼
- NATGAS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2022-05-10 | [Daily Natural Gas Market Update 5-10-22](https://feedsoft.ai/events/12156-daily-natural-gas-market-update-5-10-22.md) | +6.5% | +23.4% |
| NATGAS | 2024-10-30 | [US natural gas futures slip - Markets - Business Recorder](https://feedsoft.ai/events/8120-us-natural-gas-futures-slip-markets-business-recorder.md) | +0.6% | +60.1% |
| NATGAS | 2023-11-29 | [US natural gas prices slide - Markets - Business Recorder](https://feedsoft.ai/events/33342-us-natural-gas-prices-slide-markets-business-recorder.md) | -1.0% | -4.3% |
| NATGAS | 2016-11-03 | [Natural Gas Bears Take Over the Market - Burton Energy Group](https://feedsoft.ai/events/9175-natural-gas-bears-take-over-the-market-burton-energy-group.md) | -8.1% | +25.5% |
| NATGAS | 2022-11-10 | [Natural Gas: Warm Weather, Market Dynamics Create Havoc for Bulls \| Investing.com](https://feedsoft.ai/events/7582-natural-gas-warm-weather-market-dynamics-create-havoc-for-bulls-investing-com.md) | +34.0% | +18.6% |
| WTI | 2024-10-29 | [Analysts Explain USA Natural Gas Price Drop \| Rigzone](https://feedsoft.ai/events/8122-analysts-explain-usa-natural-gas-price-drop-rigzone.md) | +6.1% | +2.5% |
| WTI | 2017-01-03 | [The End Of The Rally? Oil Reverses, Natural Gas Trounced \| OilPrice.com](https://feedsoft.ai/events/11916-the-end-of-the-rally-oil-reverses-natural-gas-trounced-oilprice-com.md) | -3.3% | -1.8% |
| WTI | 2017-01-04 | [Crude Oil and Natural Gas Futures Plunge on Tuesday - Oklahoma Energy Today](https://feedsoft.ai/events/11910-crude-oil-and-natural-gas-futures-plunge-on-tuesday-oklahoma-energy-today.md) | -2.9% | +2.9% |

## Sources

- stonex.com: https://www.stonex.com/en/insights/daily-natural-gas-market-update-10-29-24-1532255/

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