
November Nymex natural gas settled up 6.1 cents at $3.267/MMBtu on September 29 as it became the prompt contract. Gulf Coast LNG demand neared record highs of about 16.7 Bcf/d, led by Plaquemines and Sabine Pass.
Analysts expected LNG feedgas to rise further into mid-October despite bearish weather forecasts.
Strong LNG pull provides medium-term support to US gas prices even when weather is mild. Higher gas costs raise nitrogen fertilizer and energy input costs for feed manufacturers.
Not 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.
Record Gulf Coast LNG feedgas demand (~16.7 Bcf/d) and the prompt-contract switch to November supported higher settlement prices, reinforcing the move.