Investing.com — have drawn back from their overnight peak following reports of decreased feedgas flows to Freeport LNG in Texas.
This month’s rally, bolstered by LNG exports exceeding 15 billion cubic feet (Bcf) per day, has been driven by extended cold weather boosting heating demand.
Some analysts pointed out that gas stocks are already below last year’s levels and are inching closer to the five-year average. This situation may lead to stocks being drawn down to levels significantly lower than the pre-winter expectations.
The Nymex front month, a key futures contract, settled down by 1.4% at $3.934 per million British thermal units (mmBtu).
This decline comes despite the ongoing cold weather and high heating demand, suggesting a complex interplay of factors influencing natural gas prices.
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