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Major US natural gas producers are preparing to cut production further in the second half of 2024 after prices fell nearly 40% over two months. Henry Hub futures dropped to about $2/mmBtu, and Waha prices turned negative a record number of times in 2024.
Cooler weather reduced demand while supply expanded after the spring rally.
Expected output cuts could tighten supply and support gas prices later in 2024. Higher gas prices would raise fertilizer and energy costs for feed producers.
reuters.comGeorgina Mccartney, Scott DisavinoAug 7, 2024Not 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.
