Loading…
U.S. natural gas futures dropped to a seven-week low as Gulf of Mexico producers returned wells shut by Hurricane Sally. Front-month futures were near $2.03 per MMBtu, down about 26% from the August 28 high, while U.S. LNG feedgas climbed to its highest level since April.
Returning Gulf output adds supply and pushes prices lower, but rising LNG exports partly offset the decline. Lower gas costs ease fertilizer and processing expenses for feed.
energynow.comReutersSep 18, 2020After 104 past bearish weather events, NATGAS 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.
