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US natural gas futures slid about 2% from a 13-year high on forecasts of milder weather and less cooling demand. Analysts expected the weekly storage build to be smaller than usual, with stockpiles running below the five-year average.
Tighter storage supports gas prices, while strong European demand keeps US LNG exports high. Weather-driven swings in gas prices feed through to fertilizer and processing costs for feed.
reuters.comMay 5, 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.
