Houston Vessel Count Collapse Bearish for LNG Exports

Vessel count at Houston has dropped to 20, a 1.7σ below-baseline anomaly vs an average of 89, signaling a sharp pullback in energy export activity at the leading U.S. LNG and crude hub. GLNG is already down 8.2% over 5 days and NG has collapsed 16.6% in a single session, suggesting the physical market weakness is partially priced in but the demand destruction signal may have further legs. CL's 10% single-day spike introduces conflicting signals — crude strength may not be sustained if export throughput is genuinely falling.

⚠ CL futures spiking 10% in a single session could reflect geopolitical risk premium that overrides port-level bearish signals and lifts all energy names including GLNG regardless of export fundamentals; track record at this port is 38% win rate — size accordingly.