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The Asian LNG spot benchmark JKM rose to a record $34.47/mmBtu on September 30. Low European storage, strong Asian demand, fuel shortages in China and a colder-than-expected North Asian winter drove the increase.
Record Asian LNG prices reinforce energy cost inflation across the global supply chain, including fertiliser production and energy-intensive feed processing. Competition for LNG may also raise fuel costs for crushers and dryers in Asia.
reuters.comJessica JaganathanSep 30, 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 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.
