# Global gas prices rally on hot summer, storage demand | Financial Post

> Global gas prices hit multi-year highs as hot weather lifted power generation demand in the northern hemisphere. Asian LNG cargo prices rose above $13 per mmBtu, the highest for this time of year since 2013. Japanese and Chinese LNG buying rose ahead of the Tokyo Olympics and winter.

- Date: 2021-07-01 · published 2021-07-01T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/46253-global-gas-prices-rally-on-hot-summer-storage-demand-financial-post
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Higher gas prices raise energy and fertiliser input costs and can shift fuel-switching economics in power. The effect on feed commodities is indirect but supports a firmer cost backdrop.

## Read by commodity

- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2021-08-01 | [Global Gas Prices Rally Amid Strong Demand](https://feedsoft.ai/events/46256-global-gas-prices-rally-amid-strong-demand.md) | +6.3% | +11.0% |
| NATGAS | 2021-06-25 | [Natural gas prices rally as global shortages abound](https://feedsoft.ai/events/46762-natural-gas-prices-rally-as-global-shortages-abound.md) | +10.5% | +21.6% |
| NATGAS | 2023-09-29 | [GLOBAL LNG-Asia spot prices hit 7-month high on rising demand, Europe supply worries](https://feedsoft.ai/events/34284-global-lng-asia-spot-prices-hit-7-month-high-on-rising-demand-europe-supply.md) | +7.0% | +6.9% |
| NATGAS | 2018-11-09 | [US natural gas prices soar on export and power demand amid low inventories in all regions](https://feedsoft.ai/events/62210-us-natural-gas-prices-soar-on-export-and-power-demand-amid-low-inventories-in.md) | +22.9% | +27.0% |
| NATGAS | 2020-12-28 | [Supply Crunch, Brexit Deal Push Global Gas Prices Higher -- LNG Recap](https://feedsoft.ai/events/49820-supply-crunch-brexit-deal-push-global-gas-prices-higher-lng-recap.md) | -0.3% | +3.7% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/global-gas-prices-rally-on-hot-summer-storage-demand

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