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US LNG deliveries to export facilities fell from a record 9.8 Bcf/d in late March to about 4 Bcf/d by June, as the pandemic and warm weather cut exports. Several US LNG projects remain awaiting approval or incomplete.
Rystad projects global gas production to fall 2.6% this year.
Lower export demand keeps US gas prices depressed, reducing energy costs for nitrogen fertilizer and feed processing. The decline in global output could eventually support prices.
axios.comAmy HarderJun 25, 2020After 81 past bearish trade events, Urea moved a median -1.0% over 5 sessions (28% higher; middle half -7.2% to +0.4%), and -5.5% 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.
