• BREAKING: The U.S. EIA reported a surprising low-side 46 Bcf injection into natural gas storage inventories for the week ending Oct. 9
  • Barge one of three obstructions blocking deep draft traffic in Calcasieu Ship Channel
  • LNG recovery uncertainty, warmer weather drive massive loss for November natural gas

Natural gas futures tanked Wednesday as news of a sunken barge in the Calcasieu Ship Channel squashed hopes for a quick resumption in full exports from the Cameron liquefied natural gas (LNG) facility. Another warmer shift in the latest weather data and higher production also worked in favor of bears.

EIA storage Oct 9

The November Nymex contract settled at $2.636, down 21.9 cents from Tuesday’s close. December dropped a more moderate 5.8 cents to $3.189.

Spot gas prices were mixed for the...