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European natural gas fell to its lowest level since June as the EU prepared measures to curb volatility in the region's largest market. Benchmark futures dropped 9.9% on mild weather, steady LNG inflows and high winter stockpiles.
Europe's high stockpiles and LNG arrivals are pulling gas prices down, lowering fertilizer and energy costs for feed makers. Pending EU intervention adds uncertainty to the price path.
bloomberg.comVanessa DezemOct 17, 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.
A near 10% drop in European gas on mild weather and high stockpiles spilled over to US prices through global LNG pricing sentiment.
