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The EIA reported an 11 Bcf natural gas storage withdrawal for the week ended November 21, steeper than market expectations. The January Nymex contract settled at $4.558 per mmBtu, with production near 110 Bcf per day.
A larger-than-expected draw tightens the storage outlook heading into winter, supporting Henry Hub prices. Higher gas prices feed through to nitrogen fertilizer and energy costs.
After 74 past bullish report events, NATGAS moved a median +1.3% over 5 sessions (55% higher; middle half -4.0% to +11.3%), and +2.1% 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.