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Natural gas fell 3.8% to settle at $3.140/mmBtu, a loss of nearly 11% over two days. Warmer-than-normal forecasts for the next 15 days and above-normal inventories drove the selling despite lower US supplies after the cold snap.
Warm forecasts and ample storage reduce heating demand and weigh on US gas prices, a routine downward move with limited direct effect on feed commodity balances.
wsj.comNov 7, 2023Not enough comparable past events yet for a historical read.
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.
