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Asian spot natural gas benchmark prices rose 19% to $11.58 per mmBtu on Wednesday, the largest one-day gain since November. Chinese buyers paused spot purchases, and price-sensitive emerging economies are pulling back on demand.
The sharp Asian price spike reduces spot LNG demand, which can ease pressure on global LNG prices over time. It also weighs on energy-intensive feed and fertilizer production in price-sensitive markets.
bloomberg.comAnn KohJul 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.
