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U.S. natural gas futures climbed about 4% after falling to a 10-week low the previous day. The gain followed a smaller-than-expected storage build for the week ended July 12 and forecasts for hot weather in late July and early August.
A small storage build and heat-driven power demand tighten the U.S. gas balance, supporting energy costs for grain drying, processing and fertiliser production.
reuters.comScott DisavinoJul 18, 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.
