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An early Arctic air mass moved into the lower 48 US states, sending Nymex natural gas futures sharply higher. December futures rose 54.4 cents to close at $6.924/MMBtu.
Colder demand forecasts raise near-term heating demand for natural gas, supporting gas-fired power and feed-grain-related energy costs in the US.
energyintel.comAuthor Tom Haywood, Houston Editor Chris RaineNov 7, 2022After 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.
Early Arctic air mass drove Nymex December futures up 54.4 cents to $6.924 on 2022-11-07, a direct weather-driven demand shock matching the move date.
