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U.S. natural gas prices tumbled after a fire at Freeport LNG's Texas export terminal shut the facility. The company said the plant would stay closed for at least three weeks, and no injuries were reported.
The shutdown strands about 2 bcf/d of gas in the U.S. market, pressuring domestic gas prices while reducing global LNG supply.
bloomberg.comChristine BuurmaJun 8, 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.
