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US natural gas futures edged up to an eight-month high as LNG exports kept rising and forecasts called for more heat into early September. Pipeline gas flows to LNG plants reached a three-month high, and US production remained below its November record.
Power companies in California urged customers to conserve during a heat wave.
Stronger LNG and heat-driven power demand support US gas prices, which raises nitrogen fertilizer and drying costs for grain and feed producers. The gains are driven by seasonal demand rather than a new supply shock.
brecorder.comReutersAug 20, 2020After 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.
