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Natural gas spot prices in Asia and Europe have reached record levels, with gas at about $56/mmBtu. Oil prices are also rising, and China and Europe face record coal and carbon prices.
Record power prices are emerging in several regions as gas-fired plants set the margin.
A broad energy price surge raises fertilizer, transport and processing costs across the feed chain. Persistent energy prices could keep input costs elevated into the 2022 season.
energypolicy.columbia.eduColumbia, CGEPOct 20, 2021After 155 past bullish macro events, Natural Gas moved a median +0.1% over 5 sessions (51% higher; middle half -4.0% to +7.1%), and +2.0% over 20.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.
After 92 past bullish macro events, Urea moved a median +0.0% over 5 sessions (50% higher; middle half -2.0% to +3.6%), and +4.8% 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.
