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US natural gas futures rose about 2% to a three-week high on hot forecasts and lower daily output. The EIA reported a 32 bcf storage build for the week ended Aug.
25, above analyst expectations.
Hot weather boosts power demand while the larger-than-expected storage build caps gains, leaving the price move modest for feed input costs.
brecorder.comReutersAug 31, 2023After 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.
