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The November natural gas contract settled up about 4% to $2.329/MMBtu on October 3 as forecast models shifted colder through mid-October. The analysis notes that the storage build was bearish and that upside is limited unless the cold lasts.
Colder forecasts give short-term support to gas prices, but without sustained cold, heating demand is unlikely to lift the market.
seekingalpha.comAndrei EvbuomaOct 4, 2019After 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.
