Cove Point Maintenance Sends Natural Gas Futures Lower

Natural Gas Futures Slide as Shoulder Season Takes Hold

Natural gas futures declined early Monday, influenced by fading September heat and the commencement of annual maintenance at Cove Point LNG, which is expected to lead to larger storage builds into October.

The power burn faced a 9 Bcf/d (billion cubic feet per day) drop, while production slipped 1.4 Bcf/d week/week. The start of Cove Point's annual work marked the beginning of the shoulder season, a period characterized by decreased demand and increased storage capacity.