Rumor continues to fuel markets as opposed to fact, following Friday’s Freeport LNG incident, a repeat was done yet again today. The prompt month December 2022 NYMEX natural gas contract was on upwards trend following cold weather projections to a high of US$6.416/MMBtu before the news struck again. As opposed to Twitter this time, Bloomberg released an article titled “MAJOR US LNG EXPORTER MAY EXTEND PLANT OUTAGE THROUGH DECEMBER” which was ultimately enough for the contract to lose nearly $0.50 and hit a low of $5.89. Contracts across the board settled at 2:30PM relatively flat to Friday though, and at the time of writing, the Winter 2022 has rebounded $0.132 on average. ~CL
