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Natural gas spot prices rose nearly 10 percent on Monday, trading up about $0.24 to roughly $2.68 per MMBtu. Traders reacted to hopes of a US economic stimulus deal, rising LNG exports, and a forecast that Tropical Storm Delta could cut output in the Gulf of Mexico.
Storage remained about 405 Bcf above the five-year average.
A hurricane threat to Gulf production and firmer LNG demand support natural gas prices, which feed into ethanol and DDGS production costs and nitrogen fertilizer costs for grain growers.
energyupdate.com.pkAdminOct 5, 2020After 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.
