Risk happens all at once with commodities. Today was one of those days, the future markets fell 15.5 % through to the winter of 2023; substantial move all at once. 2 Bcf of gas supply was removed from the export markets as the Freeport LNG plant will be out of commision well into the fall of 2022. This is clearly a buying oppotunity in a tight supply/demand marketplace. Even as prices remain high, a price movement of this magnitude is unprecendented in the past eight months. The additional supply will assist in filling winter storage offsetting the potential of rationing supply. This is not good news for European and Asian markets where prices continue to climb. A good day for the end user! (RS)

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