Loading…
November Nymex natural gas closed down about 4.3% on Friday, following a slump in European gas prices to a 3.5-month low. Forecasts for above-normal U.S. temperatures from October 24-28 reduced expected heating demand, while the Nord Stream 1 pipeline damage removed any near-term prospect of Russian gas resuming.
Warmer forecasts cut heating demand and weigh on natural gas prices, while the pipeline outage supports European gas prices. Energy cost moves feed through to processing and fertilizer costs.
barchart.comRich AsplundOct 14, 2022Not enough comparable past events yet for a historical read.
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.
Falling European prices and warm US forecasts cut expected heating demand and lowered the front-month contract at the start of the window.
