Loading…
U.S. natural gas futures fell nearly 5% on December 23, 2019, to $2.214 per mmBtu, their steepest daily drop in over three weeks. Forecasts for warmer-than-normal weather over the next two weeks cut expected heating demand.
Prices had already fallen about 20% from an early-November eight-month high.
Lower heating-degree-day forecasts reduce expected demand and slow storage draws, which keeps natural gas prices under pressure. Feed buyers may see softer gas-linked input costs, such as nitrogen fertilizer and ethanol-related feedstock margins.
energynow.comReutersDec 23, 2019After 104 past bearish weather events, Natural Gas moved a median -7.8% over 5 sessions (22% higher; middle half -14.8% to -0.8%), and -3.3% 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.
