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US spot natural gas prices fell about 7.5% on Friday to $2.313, a weekly loss of roughly 15%. Forecasts for above-average temperatures over the next 6-12 days raised fears of a smaller winter inventory draw.
Working gas stocks are 16% above a year earlier.
Warmer forecasts cut expected heating demand while output runs about 6% above last year, so the glut persists and pressures Henry Hub prices lower. Cheaper gas can weigh on fuel and energy costs for feed processors.
oilprice.comJulianne GeigerNov 30, 2019After 104 past bearish weather events, Natural Gas 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.
