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US power generators were forecast to burn about 52.9 bcf/d of gas on a hot Friday, a record. The prior record was 52.3 bcf/d set the day before during a heat wave.
Record power burn tightens domestic gas demand in summer, which can support gas prices and raise energy costs across the feed supply chain.
reuters.comScott DisavinoJul 28, 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.
