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Dutch TTF front-month gas hit 49.03 euros per MWh on November 22, the highest level in two years. LNG is being used to fill the gap in Europe's supply, but at a high cost.
Elevated European gas prices raise energy and nitrogen fertilizer production costs, which can feed into feed prices. Sustained LNG demand supports the global gas price level.
reuters.comClyde RussellNov 25, 2024After 155 past bullish macro events, Natural Gas moved a median +0.1% over 5 sessions (51% higher; middle half -4.0% to +7.1%), and +2.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
