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US natural gas prices fell about 16% to $7.22/MMBtu on June 14, 2022, after Freeport LNG said its Texas facility, damaged by a fire and explosion the previous week, would not return to full operation until late 2022. Partial operations were targeted in about 90 days.
The outage removes about 2 bcf/d of LNG export demand, which analysts say leaves the US market temporarily oversupplied and weighs on Henry Hub prices.
cnbc.comPippa StevensJun 14, 2022After 29 past bearish logistics events, NATGAS moved a median -9.8% over 5 sessions (21% higher; middle half -20.0% to -3.1%), and -16.6% 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.
Delayed Freeport restart cut feed-gas demand (about 2 Bcf/d), pushing US prices down about 16% to $7.22/MMBtu.
