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US natural gas prices plunged as production rose to about 94.3 BCF/day and temperatures moderated across the Midwest and Northeast. June futures settled 12.6% lower at $7.026 after retreating from 13-year highs, with crude also down 6%.
Higher output and milder weather reduce near-term gas demand. Lower gas costs ease input pressure on nitrogen fertilizer and ethanol-linked DDGS production.
stonex.comHeather WineMay 10, 2022After 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.
