Investing.com – has pulled back from last night’s peak following reports of reduced feed gas flows to Freeport LNG in Texas.
This month’s rally, boosted by LNG exports of more than 15 billion cubic feet (Bcf) per day, was driven by persistent cold weather, boosting heating demand.
Some analysts pointed out that gas inventories are already below last year’s levels and moving closer to the five-year average. This situation could lead to inventories being reduced to levels significantly lower than pre-winter expectations.
The Nymex frontmonth, a key futures contract, fell 1.4% to $3.934 per million British thermal units (mmBtu).
This decline comes despite persistent cold weather and high demand for heating, pointing to a complex interplay of factors influencing natural gas prices.
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