Positive for natural gas
US natural gas futures soared 10% to above $6.2/MMBtu on Monday, the highest in two weeks due to a rebound in LNG exports and expectations of higher domestic demand. Average US gas demand, including exports, is set to rise to 101.2 bcfd next week, from 98.3 bcfd this week. Berkshire Hathaway Energy's Cove Point LNG plant in Maryland returned to operations on October 28th after a month-long maintenance while the Freeport plant in Texas is set to at least partially resume production in early to mid-November. Meanwhile, the latest weather forecast from Maxar’s Weather Desk was showing colder trends day/day for the eastern half of the Lower 48 from November 10-14th.
This news release may not be up to date on Freeport plant news.