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US natural gas futures jumped about 9% to a one-month high on Monday on colder weather forecasts for mid-to-late November. Output dropped so far in November, and Freeport LNG was expected to return to service soon after a draft root cause failure analysis was filed.
Colder demand forecasts and the expected return of Freeport LNG tighten supply, supporting higher US natural gas prices and energy costs for feed processors.
brecorder.comReutersNov 8, 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.
Reports of a roughly 9% jump to a one-month high on colder mid-to-late November forecasts, lower output and expected Freeport LNG restart describe the same Monday rally.
