
U.S. natural gas storage was 3,801 Bcf for the week ending October 30, up 77 Bcf week over week and 1.4% above the five-year average, though below year-earlier levels. Forecasts point to warmer weather across much of the central and northern U.S., while South Central storage remains below both last year and its five-year average.
Above-average national stocks and warmer forecasts limit near-term heating demand and price upside, while the regional deficit offers some support. The outlook for prices is mixed.
After 15 past neutral weather events, Natural Gas moved a median -5.0% over 5 sessions (27% higher; middle half -11.3% to -0.9%), and +4.6% 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.