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Morgan Stanley says the global gas glut could reach multi-decade highs in coming years as more than 150 mtpa of LNG capacity is under construction. Natural gas prices have fallen about 22% this year after a warmer-than-normal winter cut heating demand.
Growing LNG supply and weak heating demand point to continued downward pressure on gas prices, which affects energy costs for feed processing and drying.
cnbc.comLee Ying ShanApr 2, 2024After 59 past bearish macro events, Natural Gas moved a median +1.3% over 5 sessions (58% higher; middle half -5.0% to +5.2%), 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.
