
US natural gas prices hovered near $3.21/MMBtu, a more-than-three-week high, amid cooler forecasts across parts of the central and eastern US, record LNG export flows and lower production. Gas flows to nine major export terminals averaged a record 19.3 bcfd so far in November, while Lower 48 output averaged 112.1 bcfd; inventories were estimated at 2.1% above the five-year average for the week ended November 6.
Colder weather may lift heating demand, while record LNG exports and lower production tighten the supply-demand balance and support gas prices. Above-average inventories provide some cushion.
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.