After rallying early amid supportive fundamental trends, natural gas futures lost steam through midday trading. Market speculation around potential disruptions to LNG export traffic out of Corpus Christi, TX, may have played a role in tempering early gains.

Here’s the latest:

  • May Nymex futures trading at $1.873/MMBtu as of 2:30 p.m. ET, up 2.9 cents
  • Front month went as high as $1.924 around 9:45 a.m. ET before pulling back
  • Corpus Christi Ship Channel closed after vehicle drove into water

The channel was closed as of early Tuesday afternoon as authorities were working to remove a vehicle that had driven into the water, a Port of Corpus Christi dispatcher confirmed to NGI. Reports of the ship channel’s closure may have fueled speculation around impacts to liquefied natural...