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US natural gas futures rose to a near four-week high on forecasts for hotter weather and firm oil prices. Front-month September futures settled at $2.814/MMBtu.
Forecasters expected mostly warmer-than-normal temperatures through early September.
Higher cooling demand from heat supports gas prices and power costs, though record output limits the upside for energy input costs.
stockopedia.comMay 25, 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.
