
November natural gas contracts climbed to $3.34/MMBtu on September 30, reaching their highest level since mid-July. The National Weather Service forecast above-normal temperatures across most of the US east of the Rockies.
Heating degree days were projected to fall well below the five-year average.
Weaker heating demand could leave regional stockpiles high and cap rallies later in the season. Energy price swings matter for fertilizer and processing costs.
After 15 past neutral weather events, Natural Gas moved a median -5.0% over 5 sessions (27% higher; middle half -11.3% to -0.9%), and +4.6% 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.