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The IEA's Gas Market Report says European gas demand fell by a record amount in 2022, with global consumption down an estimated 1.6%. Global demand is forecast to be broadly flat in 2023, but the outlook depends heavily on Russia's future supply actions and energy price swings.
Flat demand with tight supply keeps natural gas prices elevated, which raises nitrogen fertilizer costs and feeds into the cost of producing feed grains.
iea.orgFeb 28, 2023After 74 past bullish report events, Natural Gas moved a median +1.3% over 5 sessions (55% higher; middle half -4.0% to +11.3%), and +2.1% 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.
