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Henry Hub front-month gas has struggled to hold $2/mmBtu through May as LNG export cancellations pile up, with more than 30 cargoes cancelled for June. June spot expired at $1.72, while July settled at $1.89 and August at $1.97.
Analysts expect oversupply to persist because weak international LNG prices are signaling continued softness.
Persistent cargo cancellations keep US gas prices near multi-year lows, which lowers energy costs for US processors and feed producers. The price move reflects existing trends rather than a new shock.
investing.comMay 28, 2020Not enough comparable past events yet for a historical read.
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.
