Freeze-offs, storage drawdowns leave gas futures, forward markets unconcerned

摘要

The US natural gas market continues to tighten this month as frigidweather fuels a wave of freeze-offs across Texas and theMidcontinent, slashing domestic production and increasing the call ongas storage. Despite tightening fundamentals, the NYMEX futuresmarket continued to sell off in Feb. 7 trading.Over the past week, freezing temperatures across the central USare the likely culprit behind a nearly 4 Bcf/d contraction in output,which has fallen to an average 86.7 Bcf/d in February, data from S&PGlobal Platts Analytics shows.