Natural Gas Dropped Due To Sluggish Demand And A Surplus Of Domestic Supply.
Natural gas prices experienced a marginal decline of -0.13% yesterday, settling at 150.7, primarily attributed to sluggish demand and an oversupply of domestic inventory. The prolonged offline status of two liquefaction trains at the Freeport LNG export plant in Texas until May has constrained the country’s export capacity, exacerbating the surplus in domestic supply levels. Factors such as a mild winter, robust gas production, strong hydropower output, and ample beginning stocks have contributed to natural gas storage levels surpassing the five-year average by over 41% as per EIA weekly data.
