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US natural gas futures fell about 3% to a two-month low as forecasts pointed to less cold weather and lower heating demand over the next two weeks. Record output also meant utilities needed less gas from storage, and storage was about 8% above normal.
Softer heating demand and high storage keep the US gas price weak, which lowers energy costs for feed plants and fertilizer producers that use gas as an input.
brecorder.comReutersNov 29, 2023After 104 past bearish weather events, Natural Gas moved a median -7.8% over 5 sessions (22% higher; middle half -14.8% to -0.8%), and -3.3% 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.
