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U.S. dry natural gas output fell to a low of 69.7 Bcf/d on Feb. 17, down 21% from the prior week's average, according to EIA.
Texas production dropped nearly 45% as freeze-offs hit unweatherized wellheads and gathering lines. Storage withdrawals of 338 Bcf in the week ended Feb.
19 were the second-largest on record.
Lost production and record storage draws leave U.S. gas inventories tighter, supporting prices that feed into nitrogen fertilizer and ethanol costs.
naturalgasintel.comKevin DobbsFeb 25, 2021After 221 past bullish weather events, Natural Gas moved a median +3.3% over 5 sessions (61% higher; middle half -5.2% to +14.0%), and -0.3% 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.
