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European gas stocks are at record levels and futures and calendar spreads remain strong despite the surplus. Strong spreads are discouraging industrial gas use from resuming and encouraging continued LNG imports.
Record storage is pressuring prices, but firm spreads signal continued import demand that keeps LNG markets supported, a mixed signal for energy costs feeding into feed production.
reuters.comJohn KempNov 7, 2023After 37 past neutral macro events, Natural Gas moved a median -0.1% over 5 sessions (49% higher; middle half -4.2% to +12.9%), and -1.1% 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.
