Loading…
US natural gas futures rose above $3.10 per MMBtu on November 20 as colder weather was forecast for late November and early December. Cash prices rose by double digits at most hubs, and storage was near 4.0 Tcf.
The forecasts pointed to a larger than normal storage draw.
Colder demand and a larger storage draw signal firmer US gas prices. This raises energy and fertilizer costs for feed producers in the near term.
naturalgasintel.comJodi ShaftoNov 20, 2024After 221 past bullish weather events, Natural Gas moved a median +3.3% over 5 sessions (61% higher; middle half -5.2% to +14.0%), and -0.3% 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.
