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Reuters sources expect buyers to cancel 40 to 45 US LNG cargoes for August loading, matching the July count, after 20 to 30 were cancelled for June. European gas premiums over Henry Hub are too narrow to make US cargoes profitable.
Heavy LNG cancellations keep US gas volumes shut in, adding to domestic storage overhang and pressuring Henry Hub. Lower US gas prices weigh on energy and fertilizer costs for feed producers.
brecorder.comReutersJun 22, 2020After 24 past bearish trade events, Natural Gas moved a median +2.8% over 5 sessions (54% higher; middle half -4.5% to +7.3%), and -1.2% 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.
