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U.S. natural gas inventories rose 89 billion cubic feet to 3.614 trillion cubic feet in the week ending mid-September, well above analyst expectations. Prices fell by the most in almost two years as milder weather and weak industrial demand offset heat waves and hurricane outages.
A large storage surplus signals weak natural gas demand and cheaper energy, which lowers nitrogen fertilizer and drying costs for grain processors. Feed buyers may see slightly softer input costs.
financialpost.comBloomberg NewsSep 17, 2020After 62 past bearish report events, Natural Gas moved a median -3.0% over 5 sessions (42% higher; middle half -7.6% to +4.6%), and -0.5% 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.
