BUZZ-US natgas companies fall on record output and ample storage
Shares of U.S. natural gas companies fell due to a drop in natgas futures, which declined by 1.9% to $4.49 per million British thermal units. Despite near-record flows to LNG export plants and forecasts of colder weather, record output and ample storage led to the price drop. Notable declines include EQT Corp (~1%), Cheniere Energy (1.7%), Energy Transfer, Williams Companies, CNX Resources, NextDecade (2.6%), and New Fortress Energy (5.9%). ETFs United States Natural Gas Fund and ProShares Ultra Bloomberg Natural Gas also fell by 1.9% and 3.9%, respectively.
Shares of U.S. natural gas companies down, tracking a fall in natgas futures (NGA/)
U.S. natgas futures (NGc1) down 1.9% at $4.49 per million British thermal unit; the contract had closed on Friday at its highest since November 13 Natgas prices slide on record output and ample amounts of gas in storage despite near-record flows to LNG export plants and forecasts of colder weather and higher demand than previously expected over the next two weeks
Shares of natgas companies: EQT Corp falls ~1%, Cheniere Energy (LNG.N) dip 1.7%; Energy Transfer (ET.N) , Williams Companies (WMB.N) and CNX Resources (CNX.N) each down marginally
NextDecade (NEXT.O) down 2.6% and New Fortress Energy (NFE.O) falls 5.9% NEXT starts regulatory pre-filing process to add a sixth liquefaction unit and an extra marine berth at its Rio Grande LNG project in Texas, with a full application expected in 2026
ETFs United States Natural Gas Fund (UNG.P) down 1.9%, and ProShares Ultra Bloomberg Natural Gas (BOIL.P) falls 3.9%
