U.S. Natural Gas Futures Fall on Mild Near-Term Weather

After 59 past bearish macro events, Natural Gas moved a median +1.3% over 5 sessions (58% higher; middle half -5.0% to +5.2%), and -2.0% over 20.

• May 12, 2020U.S. natgas futures slide as mild weather and coronavirus cuts demand | Financial Post+0.8%
• Apr 2, 2020Feature: Unfettered global natural gas market a sign of the times+11.2%
• Jan 3, 2023Natural Gas Prices in Europe Fall to Pre-Invasion Levels - The New York Times-4.8%
• Sep 13, 2019IHS Markit: US natural gas price will fall to levels not seen since 1970s | World Pipelines-0.1%
• Jun 3, 2020Natural gas prices could go negative on global oversupply+2.8%

After 113 past macro events, Urea moved a median 0.0% over 5 sessions (48% higher; middle half -2.0% to +3.3%), and +3.7% over 20.

• Mar 20, 2023Global Natural Gas Prices Keep Falling as Demand Weakens, Banking Crisis Weighs on Markets – LNG Recap+0.3%
• Jun 23, 2026Natural gas: Lower TTF path but winter risks – Rabobank-2.1%
• Mar 24, 2023US natgas prices slump after mild winter leaves big surplus | Reuters-0.8%
• Jun 23, 2022Recession worries trigger grains selloff – The Seam+0.2%
• Mar 20, 2020Coronavirus impact hits western urea markets hard, east faring better for now-1.2%