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The EIA reports that US LNG exports fell to an average of 3.1 Bcf/d in July 2020, down from a record 8.0 Bcf/d in January. About 45 August cargoes and 30 September cargoes had been canceled, and the agency expects exports to stay low for several months.
Weak global prices and high storage in Europe and Asia have made US exports uneconomic.
Sustained low LNG exports keep US gas supply domestic and cap prices, which keeps nitrogen fertilizer input costs lower. The data confirms a weak export outlook that limits upside for natural gas.
eia.govU.S. Energy Information Administration (EIA) (.gov)Sep 1, 2020After 62 past bearish report events, Natural Gas moved a median -3.0% over 5 sessions (42% higher; middle half -7.6% to +4.6%), and -0.5% 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.
