Natural gas fell sharply in early November after the November contract settled at $2.764 per MMBtu and the December contract lost nearly 10% in its first four trading days. Lingering summer-like temperatures and forecasts for above-normal temperatures through November drove the decline.
Storage was 4.9% above the five-year average, and end-of-year storage was projected above 4.0 Tcf.
A delayed heating season and large projected storage levels point to continued injections and weak prices into winter. This bearish outlook also affects electricity markets that rely on gas-fired generation.
Setelah 104 peristiwa cuaca bearish sebelumnya, Gas Alam bergerak median -7,8% selama 5 sesi (22% lebih tinggi; separuh tengah -14,8% sampai -0,8%), dan -3,3% selama 20 sesi.
Pergerakan benchmark setiap komoditas dari penutupan terakhir sebelum peristiwa. Pembacaan historis menggabungkan peristiwa serupa di masa lalu; itu menggambarkan apa yang terjadi, bukan apa yang akan terjadi. Bukan nasihat investasi.