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U.S. natural gas futures held within a few cents of a 20-month high after the EIA reported a 49 bcf storage injection for the week ended October 16, slightly below the 52 bcf analysts expected. Stockpiles sat 9.1% above the five-year average.
Output was tracking toward a fourth monthly decline.
A smaller-than-expected storage build and falling output tighten the balance ahead of winter, supporting higher gas prices.
brecorder.comReutersOct 23, 2020After 74 past bullish report events, Natural Gas moved a median +1.3% over 5 sessions (55% higher; middle half -4.0% to +11.3%), and +2.1% 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.
