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US Henry Hub spot natural gas averaged $2.40/MMBtu in June, the lowest June level since 1999, as record production let utilities build large storage injections. Lower 48 output averaged near-record 89.33 bcfd.
Analysts expect storage to reach near-normal levels by the end of October.
Abundant domestic gas supply keeps US energy costs low, which supports cheap natural gas-fired power and nitrogen fertilizer input costs, a bearish backdrop for gas-linked commodities.
boereport.comReutersJul 1, 2019After 62 past bearish report events, Natural Gas moved a median -3.0% over 5 sessions (42% higher; middle half -7.6% to +4.6%), and -0.5% 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.
