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An explosion at Freeport LNG's Texas liquefaction terminal shut the plant for at least three weeks, taking about 2 billion cubic feet of gas per day off the international market. Henry Hub futures fell about 6% on fears of a prolonged outage and gas being dumped back into the domestic market.
Removing about 2 bcf/d of export demand pushes U.S. gas prices lower and tightens supply for Europe, with cost effects along the fertilizer and feed chain.
eenews.netMike Soraghan, Carlos AnchondoJun 9, 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.
