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US natural gas futures approached a five-week high, rising about 9% on lower output and expected heating demand. NYMEX December futures traded near $2.909/MMBtu, and open interest hit a record high.
Lower production and expected winter heating needs support gas prices despite near-term demand uncertainty. Higher gas prices lift the cost of nitrogen fertilizer and energy used in feed processing.
finimize.comFinimize NewsroomNov 12, 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.
