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US Natural Gas Declining Despite Freeport Ramp-Up

OIL

US natural gas prices have dipped on mild weather forecasts heading into April as prices track towards a 30-month low.

  • Prices are falling despite higher amounts of feedgas heading to Freeport after its eight-month outage.
  • Freeport LNG’s export plant was on track to pull in about 1.6 bcfd of gas on Tuesday, up from 1.2 bcfd on Monday, according to Refinitiv.
  • At full capacity, Freeport LNG can turn about 2.1 bcfd of gas into LNG for export.
  • Refinitiv said average gas output in the U.S. Lower 48 states rose to 98.5 bcfd so far in March from 98.1 bcfd in February. The monthly record is 99.9 bcfd in November 2022.
  • US Natgas APR 23 down -1.6% at 2.05$/mmbtu
Energy BulletsCommodities
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