NATGAS retreated below $9 at one point in response to news of an explosion at the infrastructure of Freeport, an LNG export company. If the news turns out to be true, there could be a 2 bcfd gas export halt, which would mean a significant overbuild in the stock in the near term. Other rumors include tomorrow's inventory report, which would see a triple-digit inventory overbuild, or the potential imposition of an additional tax on traders in the US gas market. Nevertheless, the most likely driver of the gas price is the breakout indicated at the outset.
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Open real account TRY DEMO Download mobile app Download mobile appFrom a longer-term perspective, however, today's pullback seems minor. Source: xStation5
