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A full restart of the Freeport LNG Texas facility will not happen until late 2022, the company said. The outage pushed US gas futures down 18% from the day before the fire, while European gas prices rose more than 60%, helped by reduced Russian pipeline flows.
US gas is cheaper because export capacity is constrained, while Europe, short of supply, has to bid up prices to attract LNG cargoes.
reuters.comLiz HamptonJun 16, 2022After 29 past bearish logistics events, Natural Gas 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.
Notes US futures fell 18% from before the fire due to the outage, which supports the move, but this is a later recap with limited new information.
