Home Tools US Natural Gas Prices Still Very Low

US Natural Gas Prices Still Very Low

18
0


US Natural Gas Prices Still Very Low

US natural gas futures fell to $3.4 during the previous session and were now trading at $3.7/MMBtu. This is the lowest level since June 20,21.

Natural gas prices have fallen by more than 10% in the US since 2023, mainly due to lower demand and record-breaking gas production. This was the worst year to-date.

Additionally, the Texas Freeport LNG export plant, which was shut down in June because of a fire, has been delayed until the second half January. This will increase the supply to the domestic market.

Additionally, traders are concerned that the facility won’t be back online until the first or second quarter because more work will need to be done to satisfy federal regulators.

It’s unlikely that anyone would want to develop export terminals even if LNG exports were permitted. Shell/TransCanada applied for permits to build an LNG import terminal off the coast New York five years ago for $27 million. Despite their best efforts, they failed to achieve any results and were ultimately unsuccessful. (At that time, it was hoped that the project could lower US consumer energy costs, but NIMBYism prevented this from…



Continue reading…

Previous articleHFM’s Outlook 2023: UK and the Pound
Next articleThe Week Ahead – Turning point?