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The US EIA forecast natural gas consumption to fall 2.4% in 2023 from 2022 levels, citing mild winters and low residential and commercial use. Henry Hub averaged $2.38/MMBtu in February.
Weaker domestic gas demand points to lower energy and fertilizer input costs, reinforcing bearish gas pricing for the year.
ogj.comOGJ editorsMar 9, 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.
