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HFI Research says the loss of about 2 Bcf/d of Freeport LNG exports on June 14, 2022 caused a severe US natural gas sell-off, though fundamentals remain tight. It expects a continued deficit and a slower grind higher, with summer power burn demand potentially offsetting the lost LNG demand.
The lost LNG export demand weakens the link between US and international gas prices in the near term, although tight supply and strong summer cooling demand could limit the downside.
hfir.comHFI ResearchJun 14, 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.
Loss of about 2 Bcf/d of LNG export demand triggered a severe US sell-off, though tight fundamentals limit the downside.
