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December Nymex natural gas closed up 9.4% on November 11, 2024, to a six-week high. Lower-48 dry gas output fell 7.0% year on year to 98.3 bcf/day, and forecasters shifted toward colder US weather.
Falling production combined with heating-demand forecasts tightens the gas balance and supports higher US gas prices. Higher gas prices raise nitrogen fertilizer and processing costs for feed producers.
barchart.comRich AsplundNov 11, 2024After 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.
