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December natural gas futures jumped 8.6% to the mid-$3.50s per MMBtu, the highest close since January and the largest one-day gain in two years. The move followed an updated forecast for unseasonable cold in the northern and central US, moving later toward the Eastern Seaboard.
Expected heating demand over a broad population area lifts near-term gas prices, and the size of the move signals strong market sensitivity to weather.
energyintel.comNov 5, 2018After 221 past bullish weather events, Natural Gas moved a median +3.3% over 5 sessions (61% higher; middle half -5.2% to +14.0%), and -0.3% 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.
Reports the same 8.6% jump in December futures, the largest one-day gain in two years, on forecasts of unseasonable cold, which started the rally within the window's lead-up.
