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US natural gas futures for September delivery fell slightly to about $2.97/MMBtu in early trading. The EIA reported a 48 Bcf storage injection for the week ending Aug.
17, slightly above expectations, and inventories remain below last year and the five-year average.
A storage build slightly above consensus caps near-term US gas price gains, which keeps energy and nitrogen fertilizer costs contained for feed producers. Inventories still sit well below normal, which limits downside.
economies.comRami HaddadAug 23, 2018After 40 past neutral report events, NATGAS moved a median +1.2% over 5 sessions (60% higher; middle half -3.5% to +2.8%), and +4.5% 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.
