Loading…
The September gas futures contract closed at $2.07/MMBtu, down 5.1 cents on the day, after nearly dropping below $2. Maintenance at a Creole Trail Pipeline compressor station reduced daily flows to Sabine Pass LNG by 1.5 Bcf/d.
Reduced feedgas to LNG export terminals loosens the domestic balance and adds bearish pressure on prompt gas prices. Lower gas prices reduce energy costs for feed mills.
energyintel.comAug 4, 2019After 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.
