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US spot natural gas prices fell $1 to $2 per MMBtu on September 23 as shoulder-season demand dropped. Cash Henry Hub slipped $1.04 to $6.71 after a cool air mass cut gas-fired power demand by about 20%.
Lower gas prices reduce input costs for US nitrogen fertilizer and ethanol production, which can ease grain-side costs. Mild weather and a large storage build point to continued softness in the near term.
spglobal.comSep 23, 2022After 104 past bearish weather events, NATGAS moved a median -7.8% over 5 sessions (22% higher; middle half -14.8% to -0.8%), and -3.3% 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.
