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Nymex natural gas futures pulled back on November 12, 2024, after trading above $3/MMBtu intraday, settling at $2.907. Cash prices rebounded as colder forecasts emerged, and Lower-48 output held below 99 Bcf/d.
Profit-taking after a sharp rally moderates the price gain, though colder forecasts and reduced output still support prices. Gas-driven input costs for feed manufacturers remain elevated.
naturalgasintel.comChris NewmanNov 12, 2024Not enough comparable past events yet for a historical read.
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.
