An explosion at the Freeport liquefied natural gas (LNG) export terminal left market participants contemplating weeks of potential demand destruction and caused a price shockwave that reverberated through the natural gas forwards market during the June 2-8 trading week.

For the Lower 48 as a whole, fixed price moves were mixed in terms of the week/week change. Once the dust settled on another stretch of volatile trading for natural gas, Henry Hub forwards for July delivery climbed 0.3 cents week/week to $8.700/MMBtu, NGI’s Forward Look data show.

However, that included a dramatic market-wide day/day sell-off between Tuesday and Wednesday, coinciding with reports of an explosion at the 2 Bcf/d Freeport facility on Quintana Island on the Texas coast.

[Decision Maker: A...