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U.S. natural gas settled up 74 cents, or 18 percent, to near $4.84 per MMBtu on fears of an early winter storm, the largest one-day move in years. The commodity is up nearly 60 percent year to date, the best of any commodity.
Oil had fallen as much as 25 percent over the previous six weeks.
A storm-driven rally with tight storage points to higher gas prices through the heating season, raising energy costs for feed and grain processing. The divergence from falling oil suggests gas is trading on its own supply-and-weather fundamentals.
investing.comNov 15, 2018After 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.
