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US natural gas prices fell about 1% on Aug 31 after a bearish EIA storage report of +32 bcf, above expectations. Forecasts of heat in September provided some support.
A larger storage build signals ample supply and softer near-term gas prices, slightly lowering energy input costs.
barchart.comRich AsplundAug 31, 2023After 62 past bearish report events, Natural Gas moved a median -3.0% over 5 sessions (42% higher; middle half -7.6% to +4.6%), and -0.5% 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.
