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U.S. natural gas futures jumped over 4% to settle at $2.913 per mmBtu, their highest close since January 2019, as LNG exports rose and forecasts pointed to colder weather. Refinitiv projected Lower 48 demand would climb from 90.0 bcfd to 98.7 bcfd the following week.
Tankers were still entering and leaving Sabine Pass despite draft limits after a grounding in the channel.
Stronger LNG export pull and a colder demand outlook tighten U.S. gas balances, which lifts domestic gas prices and raises feed-production costs for gas-fired ethanol and fertilizer inputs.
reuters.comOct 20, 2020After 59 past bullish trade events, Natural Gas moved a median +1.3% over 5 sessions (61% higher; middle half -2.7% to +10.6%), and +8.0% 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.
