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US natural gas futures rose about 2% to a two-week high on Friday, with the front-month November contract settling at $2.560 per mmBtu. Lower Lower 48 output so far in October and a jump in global gas prices supported the rise, which could boost demand for US LNG exports.
Forecasts for mild weather through early November limited the gains.
Higher global gas prices raise the pull on US LNG exports, which supports domestic natural gas prices despite weak heating demand. Mild weather and rising storage injections still cap the upside.
energynow.comOct 26, 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.
