
The EIA's November Short-Term Energy Outlook expects about 70 billion cubic feet more US natural gas in storage at the end of November than it forecast in October. It also projects the Henry Hub spot price averaging $2.87 per MMBtu from November through March.
Front-month futures fell 4.6% to $3.146 per MMBtu on lower demand forecasts.
Higher projected storage and a mild start to the month point to ample supply through winter, which weighs on US natural gas prices. Lower gas prices also reduce nitrogen fertilizer production costs over time.
After 62 past bearish report events, Natural Gas moved a median -3.0% over 5 sessions (42% higher; middle half -7.6% to +4.6%), and -0.5% 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.