◂ Event Timeline

Nov 1, 2019REPORTUS

NYMEX natural gas inches lower after higher than expected storage build report

NYMEX front-month natural gas settled 4.8 cents lower after the EIA reported an 89 Bcf storage injection, above expectations. The contract settled at $2.633/MMBtu, and stocks remained 1.4% above the five-year average.

WHY IT MATTERS

A larger-than-expected injection signals ample supply and reinforces bearish pressure on US gas prices. Cheaper natural gas can lower energy and processing costs for feed producers.

AFFECTSNATGAS▼

SOURCE
daily.energybulletin.orgTom WhippleNov 1, 2019

Price reaction & history

NATGAS▼bearishSO FAR1d -2.1%5d +4.7%20d -11.6%

After 62 past bearish report events, NATGAS moved a median -3.0% over 5 sessions (42% higher; middle half -7.6% to +4.6%), and -0.5% over 20.

Jan 4, 2018Natural gas slumps 4% after lower-than-expected US inventory drawdown-30.1%
Jan 5, 2017EIA Reports Smaller-than-expected Fall In U.S. Natural-gas Supplies | Fox Business-2.9%
Sep 15, 2022U.S. natgas drops 9% on rail deal, bigger than expected storage build-11.5%
Jan 5, 2023Bullish US natural gas storage report from EIA falls flat as NYMEX futures sell off-10.5%
Oct 21, 2022Natural Gas Extends Selloff As Latest Storage Report, Freeport News Feed the Bears+0.3%

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.

NATGAS · GP ▸

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