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The EIA reported a 46 Bcf storage injection for the week ended October 9, smaller than the 60 Bcf guidance and below the five-year average of 87 Bcf. Total stocks were 10% above the five-year average.
Front-month futures settled at $2.795 per MMBtu, up about 100% from June lows.
A bullish storage surprise tightens the U.S. gas balance heading into winter, supporting prices and the cost of gas-linked feed inputs.
finance.yahoo.comNilanjan ChoudhuryOct 20, 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.
