U.S. natgas down 3% as Freeport LNG outage leaves more fuel for storage
U.S. natural gas futures fell about 3% on Thursday on expectations last week’s storage build will be near normal despite hotter than usual weather, as the shutdown of Freeport’s liquefied natural gas (LNG) export plant in Texas left more fuel available for utilities to stockpile. Prices fell despite a drop in daily output this week and forecasts for hotter than normal weather through at least early July, which should keep gas demand from power generators high as consumers crank up their air conditioners to escape the heat. Analysts forecast U.S. ...
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