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December Nymex natural gas closed at $2.920 on November 11, 2024, up about $0.20 from Friday on a five-week intraday high. The EIA reported a 69 Bcf storage injection for the week ended November 1, slightly above estimates, with inventories 5.8% above the five-year average.
A storage build slightly above expectations is modestly bearish, but the price rally on storm threats and short covering keeps gas costs firm. Energy input costs for feed manufacturers stay elevated.
spragueenergy.comEmily BeckettNov 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.
