◂ Event Timeline

Jul 28, 2023REPORTUS

August Natural Gas Futures Contract Limps into Expiration

The August Nymex natural gas contract expired at $2.492/MMBtu after falling 17.3 cents on the day. EIA reported a 16 Bcf storage injection, leaving inventories well above the five-year average.

WHY IT MATTERS

Robust production and ample storage keep US gas prices subdued, which lowers energy and fertilizer feedstock costs for the domestic feed chain.

AFFECTSNatural Gas▼

SOURCE
naturalgasintel.comJul 28, 2023

Price reaction & history

Natural Gas▼bearishSO FAR1d +4.1%5d +0.8%20d -0.5%

After 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.

Mar 9, 2023EIA expects US natural gas consumption to fall 2.4% in 2023 | Oil & Gas Journal-3.2%
May 8, 2020Balances 'Way Too Loose' as Natural Gas Futures Extend Sell-Off Early-12.1%
Jan 4, 2018Natural gas slumps 4% after lower-than-expected US inventory drawdown-30.1%
Apr 26, 2024Weekly Natural Gas Cash Spot Prices Move Higher as Futures Stumble+18.9%
Apr 16, 2020Natural Gas Contango Swells As Summer/Winter Trades Get Crowded | Investing.com NG+17.1%

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.

Natural Gas NATGAS · GP ▸

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