Welcome to the production lost edition of Natural Gas Daily!
The natural gas market got a big uplift today thanks to an unplanned outage at Owingsville Compressor Station.
The outage has now dropped Lower 48 production down to 90.3 Bcf/d, and the front-end of the curve is reacting swiftly with the contango narrowing.
But the issue with this production drop is that this is a maintenance-related issue, so once the compressor station is fixed, the volume will return. As a result, the near-term price reaction may be a bit unwarranted.
Although we know that, throughout