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December Nymex natural gas closed down 3.15% on Tuesday, a two-month low, as forecasts shifted warmer for Dec 8-12. Lower-48 dry gas production was up 3.2% year on year, and European storage was 97% full.
Warmer forecasts reduce heating demand and high inventories cap prices, which keeps US natural gas costs low for energy-intensive feed and fertilizer production.
barchart.comRich AsplundNov 28, 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.
