Natural Gas Intel: Stampede Ends for Natural Gas Bulls as Futures Drop Ahead of EIA Storage Report; Cash Mixed

May 20, 2020

Rough waters are likely to persist. Shipbroker Poten & Partners said that 25 U.S. LNG cancellations are expected in July and more than 20 are expected in each month from August to October given the uneconomic spread between the United States and key markets overseas.

“These numbers will still be high through August, September and October, with October peaking out at about 27 cancellations,” said Poten’s Kristen Holmquist, forecasting manager, during a webinar last week. “Cancellations could be higher. In our supply and demand balance, we still show a little bit of excess supply, so there might even be more LNG taken out.”

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