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Natural Gas Dropped Driven By Near-Record Production, Abundant Fuel Storage.
Natural gas experienced a decline of -2.48%, settling at 130, primarily influenced by near-record production, ample fuel storage, and warmer-than-average temperatures.
Technical issues at Freeport LNG’s export facility further limited gas flow to LNG export terminals, contributing to the downward pressure on prices, with record levels expected only upon the facility’s return to full power.
Mild winter temperatures have allowed utilities to bolster gas storage, with inventories currently surpassing normal levels by 15.9%.
