6/30, 6:57 PM (Source: TeleTrader)
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F NG+4.32%

Chart for: F NG 9/22

Natural gas falls 13% after Freeport LNG update

Natural gas prices in the United States fell over 13% as fresh reports about the situation of Freeport LNG came out. A US safety regulator explained on Thursday that the operating conditions at the Texas liquefied natural gas facility are insecure.

"Continued operation of Freeport's LNG export facility without corrective measures may pose an integrity risk to public safety," the US Pipeline and Hazardous Materials Safety Administration (PHMSA) stated while stressing that a partial restart could not be possible before September. Besides that, the Energy Information Administration (EIA) revealed also today that domestic natural-gas supplies increased by 82 billion cubic feet when compared to the week prior.

Following the news, US natural gas futures for delivery in August sank 13.17% to sell for $5.642 per million British thermal units at 12:52 pm ET.

Baha Breaking News (BBN) / JG