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Executives at the Gastech conference warned that global LNG spot prices could spike this winter as European storage sits at record lows. Qatar and the UAE were unable to ship LNG through the Strait of Hormuz, with about 36 million tonnes of supply lost this year.
Woodmac said spot prices could reach $40/MMBtu.
Tight global LNG supply and low European storage increase competition for US cargoes and can lift US gas prices, raising energy costs for feed producers.
stockopedia.comMay 25, 2023After 136 past bullish geopolitics events, Natural Gas moved a median +2.7% over 5 sessions (63% higher; middle half -1.8% to +8.8%), and +4.0% 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.
