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US Henry Hub natural gas prices fell 16.49% after Freeport LNG said the Quintana Island, Texas, terminal may take months to return after a major explosion. European gas prices surged on the news as the EU was trying to refill storage before winter.
Reduced US export capacity tightens EU supply and supports European prices while depressing US gas prices, and the risk of further hurricane-related LNG disruptions adds upside risk.
ig.comThomas WestwaterJun 15, 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.
Confirms a 16.5% Henry Hub drop on the terminal outage, as exports were stranded and domestic supply overhang grew.
