# U.S. gas prices soar as Europe and Asia scramble for LNG

> US natural gas prices surged to their highest real level in years as Europe and Asia bought LNG to refill depleted storage. Fears of a Russian supply disruption added to the buying.

- Date: 2022-05-06 · published 2022-05-06T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/12161-u-s-gas-prices-soar-as-europe-and-asia-scramble-for-lng
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Strong overseas LNG demand pulls US gas higher, raising domestic gas costs for nitrogen fertilizer and feed drying. Higher gas prices also support ethanol and DDGS production costs.

## Read by commodity

- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2021-12-21 | [LNG cargoes diverted toward Europe from Asia as gas prices soar \| Reuters](https://feedsoft.ai/events/43782-lng-cargoes-diverted-toward-europe-from-asia-as-gas-prices-soar-reuters.md) | -5.2% | +14.7% |
| NATGAS | 2017-11-15 | [LNG giant Qatar's empty shelves pose upside risk for Asian gas prices](https://feedsoft.ai/events/68158-lng-giant-qatar-s-empty-shelves-pose-upside-risk-for-asian-gas-prices.md) | -1.5% | -10.0% |
| NATGAS | 2017-11-03 | [LNG prices soar as China faces winter gas crunch \| LNG Industry](https://feedsoft.ai/events/10192-lng-prices-soar-as-china-faces-winter-gas-crunch-lng-industry.md) | +13.7% | +8.5% |
| NATGAS | 2022-04-08 | [U.S. gas storage emptied by exports to Europe and Asia \| Reuters](https://feedsoft.ai/events/42047-u-s-gas-storage-emptied-by-exports-to-europe-and-asia-reuters.md) | +14.8% | +32.1% |
| NATGAS | 2022-03-30 | [The LNG Export Boom Is Draining U.S. Natural-Gas Supplies and Lifting Prices](https://feedsoft.ai/events/42449-the-lng-export-boom-is-draining-u-s-natural-gas-supplies-and-lifting-prices.md) | +12.4% | +33.0% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/us-gas-prices-soar-europe-asia-scramble-lng-2022-05-06/

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