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US natural gas futures jumped to their highest close since November after Gulf Coast producers shut wells and output fell to a two-year low. The move also reflected forecasts for colder weather and higher demand in mid-October, despite lower LNG feed flows as Cameron LNG shut ahead of Hurricane Delta.
Combined production losses from the hurricane and colder demand forecasts tighten the near-term balance and support higher prices. Higher gas costs raise the cost of energy and nitrogen inputs for feed producers.
ca.investing.comOct 6, 2020
brecorder.comReutersOct 9, 2020After 221 past bullish weather events, Natural Gas moved a median +3.3% over 5 sessions (61% higher; middle half -5.2% to +14.0%), and -0.3% 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.
