
US December natural gas futures rose about 2% on Friday to a two-week high, supported by cooler late-November forecasts, record LNG export flows and a recent decline in production. Lower-48 output averaged 111.6 bcfd so far in November, down from October, while storage was estimated at 2.1% above normal.
Cooler forecasts and strong exports could lift gas demand as production has eased, supporting futures. Above-normal inventories and forecasts for warmer-than-normal weather through November 21 temper that support.
After 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.