Updated
Updated · Bloomberg · Jun 2US Natural Gas Futures Fall for 3rd Day as LNG Terminal Flows Drop
3 articles · Updated · Bloomberg · Jun 2
- US natural gas futures declined after gas flows to Gulf Coast LNG export terminals fell for a third straight day, reducing near-term export demand.
- Sabine Pass LNG in Louisiana and Corpus Christi LNG in Texas accounted for much of the drop, leaving more gas in the domestic market.
- Higher US supply is hitting prices just as gas-fired power demand is expected to rise with heavier summer air-conditioning use.
- Domestic stockpiles are already above the five-year average, adding to pressure on futures despite the seasonal demand outlook.
With Qatar's LNG offline and winter approaching, can Europe's energy alliance with the US prevent a supply crunch? Why are US gas prices falling while a global energy crisis sends European and Asian prices soaring? A drone strike cut 19% of global LNG. Is this the event that forces a worldwide shift to renewables?