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Freeport LNG said the Texas export terminal may take three months to partially restart, a timeline much longer than market participants had expected. U.S. natural gas prices slumped as the shutdown stranded supplies in the domestic market.
A longer outage keeps about 2 bcf/d of gas in the U.S. market, pressuring Henry Hub prices and easing domestic gas costs for feed producers.
bloomberg.comChristine BuurmaJun 14, 2022After 29 past bearish logistics events, Natural Gas moved a median -9.8% over 5 sessions (21% higher; middle half -20.0% to -3.1%), and -16.6% 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.
