# LNG markets eye record prices in race to replenish stocks | Reuters

> Benchmark LNG prices were around $31/MMBtu as buyers scrambled to replenish stocks. European gas storage remained about 15% below five-year averages entering the withdrawal season, and storage was not expected to normalise before October 2022. Germany's regulator also suspended approval of a major Russian gas pipeline, adding to upward pressure on regional prices.

- Date: 2021-11-17 · published 2021-11-17T12:00:00.000Z
- Category: macro · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/44228-lng-markets-eye-record-prices-in-race-to-replenish-stocks-reuters
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [Urea](https://feedsoft.ai/c/UREA.md)

## Why it matters

Tight European storage and high LNG prices pull global LNG cargoes toward Europe and keep energy costs elevated. Higher gas costs raise nitrogen fertilizer production expenses, which supports feed-grain input costs.

## Read by commodity

- UREA: bullish ▲
- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2021-01-25 | [Asia’s record gas prices underline the need to make its markets more resilient - IEA](https://feedsoft.ai/events/49333-asia-s-record-gas-prices-underline-the-need-to-make-its-markets-more-resilient.md) | +7.1% | +24.8% |
| NATGAS | 2021-10-01 | [Explainer: What's behind the wild surges in global LNG prices and the risks ahead \| Reuters](https://feedsoft.ai/events/44761-explainer-what-s-behind-the-wild-surges-in-global-lng-prices-and-the-risks.md) | -0.5% | +0.2% |
| NATGAS | 2021-04-28 | [LNG market tightens after record winter highs](https://feedsoft.ai/events/47779-lng-market-tightens-after-record-winter-highs.md) | +3.2% | -0.0% |
| NATGAS | 2021-10-05 | [Gas price surges to a record high in Europe on supply concerns](https://feedsoft.ai/events/44766-gas-price-surges-to-a-record-high-in-europe-on-supply-concerns.md) | -6.6% | -10.0% |
| NATGAS | 2021-10-01 | [Asian prices surge to record high this week as winter starts](https://feedsoft.ai/events/44765-asian-prices-surge-to-record-high-this-week-as-winter-starts.md) | -0.5% | +0.2% |
| UREA | 2021-10-01 | [Explainer: What's behind the wild surges in global LNG prices and the risks ahead \| Reuters](https://feedsoft.ai/events/44761-explainer-what-s-behind-the-wild-surges-in-global-lng-prices-and-the-risks.md) | +26.3% | +29.3% |
| UREA | 2021-10-05 | [Gas price surges to a record high in Europe on supply concerns](https://feedsoft.ai/events/44766-gas-price-surges-to-a-record-high-in-europe-on-supply-concerns.md) | +6.2% | +11.5% |
| UREA | 2021-09-30 | [Asian LNG spot price reaches record high of $34.47/mmbtu - Platts data](https://feedsoft.ai/events/45220-asian-lng-spot-price-reaches-record-high-of-34-47-mmbtu-platts-data.md) | +31.3% | +34.0% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/lng-markets-eye-record-prices-race-replenish-stocks-2021-11-17/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.