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Spot natural gas prices fell about 11% after a 15.8% spike earlier in the week, despite a major winter storm across Texas and the central U.S. Storage fell 268 BCF in the week ended January 28, to 2.323 TCF, the largest weekly draw of the season, though still below the five-year average. Permian output fell more than 2 BCF/day from late January due to freeze-offs.
Large storage draws and production losses tighten the balance and support prices, but a less extreme cold snap limits the upside. Gas price direction feeds into energy and fertilizer costs for feed producers.
stonex.comHeather WineFeb 4, 2022After 40 past neutral report events, Natural Gas moved a median +1.2% over 5 sessions (60% higher; middle half -3.5% to +2.8%), and +4.5% 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.
