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Natural gas futures rallied midday Monday, June 3, 2024, with July Nymex up 13.1 cents to $2.718/MMBtu. Wood Mackenzie estimated Lower-48 output at 98.7 Bcf/d, below the year-earlier level, and LNG terminal flows were around 13 million Dth/d.
Production running below last year and steady LNG demand support prices, but rising output could cap gains. The effect on animal feed markets is indirect, through energy and fertilizer costs.
naturalgasintel.comJeremiah ShelorJun 3, 2024Not enough comparable past events yet for a historical read.
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.
