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U.S. natural gas storage stood at about 3.3 trillion cubic feet in the week ended Jan. 5, 12% above the five-year average and the highest entering winter since 2020.
Withdrawals since November have run 28% below the five-year average, and prices are up 7.9% year to date at $2.51 per mmBtu but still about 21% below a year earlier.
Ample storage cushions supply against winter demand, which caps upside in natural gas prices and weakens the energy-cost argument for feed-grain and fertilizer inputs.
wsj.comJinjoo LeeFeb 1, 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.
