Loading…
US natural gas futures rose more than 10% on Monday after hitting their lowest level since 1995 the previous session. The August contract climbed 15.6 cents to $1.701 per mmBtu as forecasts pointed to hotter weather and higher cooling demand.
Chesapeake Energy also filed for Chapter 11, signaling some supply drop.
Warmer forecasts lift expected power-sector gas burn, and a producer bankruptcy hints at lower output, supporting prices after a sharp slump. Gas-based fertilizer and feed-cost inputs can shift with these moves.
brecorder.comReutersJun 29, 2020After 13 past neutral weather events, Crude Oil (WTI) moved a median +2.3% over 5 sessions (62% higher; middle half -0.9% to +4.7%), and +6.1% 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.
