# Warm weather, strong supply weighs down US gas prices, with some record lows | S&P Global

> Northeast US spot natural gas prices fell to all-time record lows on Nov. 6 as warmer-than-normal temperatures and strong supply weighed on the market. Algonquin city-gates and Transco Zone 6 NY both hit record lows before rebounding slightly over Nov. 9-11. Southeast and Southwest prices were supported by strong LNG export demand.

- Date: 2020-11-12 · published 2020-11-12T12:00:00.000Z
- Category: weather · region US · magnitude low
- Page: https://feedsoft.ai/events/50345-warm-weather-strong-supply-weighs-down-us-gas-prices-with-some-record-lows-s
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Weak regional cash prices and record-low winter basis signal soft near-term US gas demand, which limits upside for natural gas-linked feed and fertilizer costs. The rebound suggests the weakness is weather-driven and may not persist.

## Read by commodity

- NATGAS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2023-11-06 | [Strong Supplies, Mild Weather Push Global Natural Gas Prices Lower – LNG Recap](https://feedsoft.ai/events/6389-strong-supplies-mild-weather-push-global-natural-gas-prices-lower-lng-recap.md) | -11.7% | -16.2% |
| NATGAS | 2021-10-22 | [Mild weather, lengthening supply balances weigh on gas market bulls \| S&P Global](https://feedsoft.ai/events/11755-mild-weather-lengthening-supply-balances-weigh-on-gas-market-bulls-s-and-p.md) | +14.0% | -2.0% |
| NATGAS | 2023-11-06 | [US natgas prices drop 7% on record output, mild weather](https://feedsoft.ai/events/6385-us-natgas-prices-drop-7-on-record-output-mild-weather.md) | -11.7% | -16.2% |
| NATGAS | 2024-10-14 | [Nat-Gas Prices Tumble as US Weather Forecasts Warm](https://feedsoft.ai/events/10301-nat-gas-prices-tumble-as-us-weather-forecasts-warm.md) | -17.8% | -27.1% |
| NATGAS | 2016-10-27 | [U.S. gas prices slump as warm weather persists: Kemp](https://feedsoft.ai/events/10114-u-s-gas-prices-slump-as-warm-weather-persists-kemp.md) | -1.9% | +6.6% |

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/natural-gas/111220-warm-weather-strong-supply-weighs-down-us-gas-prices-with-some-record-lows

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.