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Asia spot LNG rose to $6.80 per mmBtu in the week ended March 26 and US LNG futures gained 7.9% amid the Suez Canal blockage. Analyst Clyde Russell argues only small volumes flow to Asia through Suez, so the price rise is likely overdone.
The Suez disruption is mainly a European LNG supply issue, so the Asian price jump may reverse, limiting its effect on energy and fertilizer costs for feed producers.
cnbcafrica.comReutersMar 29, 2021After 54 past bullish logistics events, Natural Gas moved a median -1.8% over 5 sessions (43% higher; middle half -5.7% to +6.2%), and +5.1% over 20.
Not enough comparable past events yet for a historical read.
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.
