Loading…
EIA reports that US natural gas production fell 8.1 Bcf/d in February 2021 to 104.8 Bcf/d, the largest monthly decline on record. The drop was driven by freeze-offs during a record cold snap that hit Texas wells especially hard.
The February supply shock is now historical, and production has since recovered. Its main relevance to feed buyers is that it explains the tight gas balance earlier in 2021.
eia.govMay 10, 2021After 40 past neutral report events, Natural Gas moved a median +1.2% over 5 sessions (60% higher; middle half -3.5% to +2.8%), and +4.5% 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.
