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PetroChina's pipeline gas auction price jumped about 49% for the Dec. 1-7 delivery round, lifting trucked LNG prices in northwest China by 9.7%.
The rise came despite sluggish downstream demand.
Higher domestic gas costs in China raise LNG prices and may shift gas-on-gas competition. The effect on feed commodity markets is limited.
spglobal.comDec 1, 2023Not enough comparable past events yet for a historical read.
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.
