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The EIA's October Short-Term Energy Outlook forecasts higher US household heating expenditures this winter, with natural gas up 5% and home heating oil up 20%. It expects end-October natural gas inventories at their lowest for that time of year since 2005.
Brent averaged $79/b in September and is forecast at $74/b for 2018.
The EIA projection of low gas inventories supports a firmer natural gas price outlook into winter. Energy cost forecasts also feed into diesel and transport costs for feed delivery.
fuelsmarketnews.comFuels Market NewsOct 16, 2018After 74 past bullish report events, NATGAS moved a median +1.3% over 5 sessions (55% higher; middle half -4.0% to +11.3%), and +2.1% over 20.
After 56 past neutral report events, WTI moved a median +0.0% over 5 sessions (50% higher; middle half -2.7% to +2.5%), and +0.8% 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.
