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September Nymex natural gas futures rose 13 cents on average in the week to Aug. 9, reaching about $2.95/MMBtu.
The rally followed concerns over low US storage after a bullish EIA injection miss, with inventories well below both last year and the five-year average.
A persistent storage deficit supports US natural gas prices, which raises energy and nitrogen fertilizer costs for feed producers. The magnitude is modest given the price level near $3.
naturalgasintel.comLeticia GonzalesAug 10, 2018After 74 past bullish report events, Natural Gas moved a median +1.3% over 5 sessions (55% higher; middle half -4.0% to +11.3%), and +2.1% 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.
