Fake Twitter News About Freeport LNG Leads to NYMEX Drop on Friday

An interesting episode on Friday illustrates the power of social media and fake news. The NYMEX natural gas futures price for the "front month" December contract plunged as much as 7.4% on Friday morning after someone identifying themselves as a commodities trader posted on Twitter that “cracked pipes” were discovered at the Freeport LNG terminal, potentially delaying the company’s plans to restart exports. Interest in the tweet took off after being shared by another Twitter user that is widely followed by gas traders and analysts.

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