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The US EIA's October Short-Term Energy Outlook forecasts Henry Hub spot prices averaging $3.38/MMBtu in January 2021 and above $3.00 throughout 2021. The agency expects winter inventory draws to outpace the five-year average and end March 2021 about 6% lower than normal, despite record October storage.
The forecast signals a sharp rise in natural gas prices from 2020 levels as demand and LNG exports grow while production stays lower. Feed producers should expect higher energy and fertilizer costs through the winter.
ogj.comOGJ editorsOct 6, 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.
