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U.S. natural gas futures slipped about 2% on forecasts for lower demand and expectations that the extended Freeport LNG shutdown would let utilities rebuild low storage. The decline came despite record Texas power demand and forecasts for hotter U.S. weather.
European benchmark TTF prices rose about 7% after Russia cut pipeline exports to Europe.
Weaker U.S. gas prices reduce input costs for energy-intensive feed and fertilizer production, while higher European prices reflect continued tightness in supply to Europe.
reuters.comJun 17, 2022Not enough comparable past events yet for a historical read.
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.
