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European prompt gas prices surged above EUR30/MWh in June as storage stocks were very low, Russian flows via Ukraine were constrained and Asia competed for LNG cargoes. Storage was only 47% full as of June 27, versus 80% a year earlier.
Europe's tight gas balance and weak storage injections keep energy costs high for European processing and fertilizer production, supporting European energy-linked prices.
spglobal.comStuart Elliott, Andreas Franke, Frank WatsonJun 30, 2021After 136 past bullish geopolitics events, Natural Gas moved a median +2.7% over 5 sessions (63% higher; middle half -1.8% to +8.8%), and +4.0% 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.
