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July gas futures pulled back another 13.6¢ to end Tuesday's session at $6.808 per million Btu. The prompt month contract has lost more than $2.10 since a May 26 explosion and fire shut down operations at Freeport LNG for a minimum of three months. However, the 2 billion cubic feet of per day of extra gas that would have gone to storage has been used for record power burns. More recent forecasts are calling for less extreme heat, reducing expected cooling demand. The 12-month strip fell 13.3¢ to $6.258; the 2023 calendar strip was off 6.4¢ to $5.35 (Futures contracts).

Gas Demand, Gas Inventories, Gas Supply, Gas Prices, Gas Pipelines
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