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US natural gas futures traded in a narrow range on Friday ahead of the Labor Day weekend, with the October contract near $2.12/MMBtu. The EIA reported a 35 Bcf storage injection for the week ended Aug.
23, below the five-year average of 43 Bcf. Production was around 102 Bcf/d, and forecasts pointed to easing weather demand.
A modest storage surplus and steady output keep US gas prices range-bound, which has little direct effect on feed commodity prices.
naturalgasintel.comKevin DobbsAug 30, 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.
