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China's domestic liquefied natural gas price rose to a record 8,114 yuan per ton on frigid temperatures, having rallied nearly 80% in the past month. Beijing temperatures were below seasonal average from February 12 to 22 and were forecast to stay cold.
Chinese importers may buy more spot cargoes to meet heating demand, tightening global LNG supply and supporting gas prices that feed into energy costs.
bloomberg.comBloomberg.comMar 1, 2022After 221 past bullish weather events, NATGAS moved a median +3.3% over 5 sessions (61% higher; middle half -5.2% to +14.0%), and -0.3% 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.
