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Cash natural gas prices weakened for a second straight day as a forecast warm-up eased East Coast premiums, with the NGI National Spot Gas Average falling 69 cents to $2.92/MMBtu. Futures also slid over the week as prompt-month prices fell from $3.631 to as low as $2.837 after a change in the February cold outlook and recovering production from January freeze-offs.
Weaker spot prices and recovering output point to ample near-term gas supply, which pressures natural gas prices and feed-energy costs for buyers.
naturalgasintel.comJeremiah ShelorFeb 2, 2018After 104 past bearish weather events, Natural Gas moved a median -7.8% over 5 sessions (22% higher; middle half -14.8% to -0.8%), and -3.3% 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.
