# Global Gas Prices are Soaring to Record Highs. Here's Why.

> Natural gas prices reached seasonal records as global demand grew faster than supply. In Europe, the TTF benchmark rose from about 20 EUR/MWh at the start of 2021 to over 100 EUR/MWh in early October. Low European storage, weak wind output and drought-reduced hydro generation were cited as drivers, and the tightness was spilling into oil markets.

- Date: 2021-10-22 · published 2021-10-22T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/11751-global-gas-prices-are-soaring-to-record-highs-here-s-why
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Expensive gas and power raise costs for nitrogen fertilizer and processing, and tighter energy markets lift substitute fuel prices. This supports higher energy-linked input costs for feed producers.

## Read by commodity

- WTI: bullish ▲
- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2022-08-25 | [Why are global gas prices so high?](https://feedsoft.ai/events/40207-why-are-global-gas-prices-so-high.md) | -2.9% | -20.2% |
| NATGAS | 2021-09-25 | [Global Natural Gas Prices Are Soaring : NPR](https://feedsoft.ai/events/7926-global-natural-gas-prices-are-soaring-npr.md) | +9.7% | +1.4% |
| NATGAS | 2021-09-28 | [U.S. natgas rise to 7-year high on record global prices](https://feedsoft.ai/events/7925-u-s-natgas-rise-to-7-year-high-on-record-global-prices.md) | +2.9% | +3.4% |
| NATGAS | 2020-12-28 | [Supply Crunch, Brexit Deal Push Global Gas Prices Higher -- LNG Recap](https://feedsoft.ai/events/49820-supply-crunch-brexit-deal-push-global-gas-prices-higher-lng-recap.md) | -0.3% | +3.7% |
| NATGAS | 2021-10-01 | [Asian prices surge to record high this week as winter starts](https://feedsoft.ai/events/44765-asian-prices-surge-to-record-high-this-week-as-winter-starts.md) | -0.5% | +0.2% |
| WTI | 2021-05-01 | [Why prices of commodities, from metals to food, are soaring](https://feedsoft.ai/events/11301-why-prices-of-commodities-from-metals-to-food-are-soaring.md) | +2.2% | +4.4% |
| WTI | 2018-06-28 | [Oil prices are high. So why is the Canadian dollar still so low? - National \| Globalnews.ca](https://feedsoft.ai/events/64754-oil-prices-are-high-so-why-is-the-canadian-dollar-still-so-low-national.md) | -3.7% | -6.5% |
| WTI | 2023-08-25 | [Oil futures up 1% to one-week high on soaring US diesel prices](https://feedsoft.ai/events/34772-oil-futures-up-1-to-one-week-high-on-soaring-us-diesel-prices.md) | +5.3% | +13.4% |

## Sources

- finance.yahoo.com: https://finance.yahoo.com/news/global-gas-prices-soaring-record-182026253.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.