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Natural gas futures recovered after the EIA reported a 58 Bcf storage injection for the week ended Sept. 13, slightly above consensus but lighter than the five-year average.
The October contract settled at $2.348/MMBtu. The surplus to the five-year average narrowed to about 9%.
A lighter-than-normal injection points to a tighter supply balance, which supports gas prices and marginally raises the energy-cost outlook for feed producers.
naturalgasintel.comChris NewmanSep 19, 2024After 74 past bullish report events, Natural Gas 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.
