Winter storm hammers natural gas output in US

US natural gas production suffered its biggest one-day drop in more than a decade on December 23 as the massive winter storm battering much of North America froze liquids in pipes and forced wells to shut down, Report informs with reference to Bloomberg.

Supplies across the Lower-48 states shrank by nearly 10 billion cubic feet, or roughly 10%, from the previous day as temperatures across key producing areas including in top supplier Texas fell below freezing, according to BloombergNEF data.

Meanwhile, domestic demand surged to the highest daily level since early 2019. Early pipeline nominations tracked by BNEF indicate that gas supplies may start to rebound Saturday while still trailing normal levels.