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February natural gas futures fell 48.7 cents to settle at $3.99 per million Btu on Tuesday as anemic space heating demand weighed on the market. The decline reflected weak winter heating needs during a warm start to the season.
Low heating demand lowers natural gas burn and supports a bearish near-term price outlook. Cheaper gas reduces input costs for nitrogen fertilizer and power used in feed processing.
energyintel.comAuthor Everett Wheeler, Washington Editor Chris RaineJan 3, 2023After 104 past bearish weather events, Natural Gas moved a median -7.8% over 5 sessions (22% higher; middle half -14.8% to -0.8%), and -3.3% 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.
