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Energy Intelligence reports that prompt-month natural gas futures fell 6.5% to the low $2.60s on Nov 7. The drop followed a European winter outlook calling for widespread warmth across much of the central and eastern US, and an expected storage build that would push inventories to a record above 4 trillion cubic feet.
Warm weather and record storage reduce heating demand and add supply cushion, which pressures US gas prices lower.
energyintel.comNov 8, 2016After 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.
