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Henry Hub natural gas for November delivery rose as much as 10.7% to $5.844/mmBtu after forecasts called for chilly early-November weather in the US East and Midwest. Storage injections were larger than usual in mild October, but supplies remain below normal.
The US is exporting near capacity to help ease shortages in Europe and Asia.
Cold forecasts and strong LNG export pull tighten the balance for winter supply, supporting higher natural gas prices. Higher gas costs raise energy and fertilizer costs for feed production.
energyconnects.comBloombergOct 25, 2021After 221 past bullish weather events, Natural Gas moved a median +3.3% over 5 sessions (61% higher; middle half -5.2% to +14.0%), and -0.3% 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.
Same-day report of the surge to $5.844 on chilly East and Midwest forecasts, with supplies below normal and LNG exports near capacity, so heating demand expectations met a tight supply backdrop.
