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Asian spot gas prices reached a six-year high of about $12/MBtu at end-2020, driven by Chinese LNG demand during a colder-than-average winter and LNG plant outages. Tight shipping and high freight rates constrained supply, and more LNG cargoes were diverted from the Atlantic to Asia.
The report also notes US LNG exports reached record monthly levels.
Strong Asian gas demand and tight LNG supply lift energy costs across the region and tie up shipping capacity, a background cost factor for fertilizer and energy-intensive feed inputs.
cedigaz.orgJan 13, 2021After 74 past bullish report events, Natural Gas moved a median +1.3% over 5 sessions (55% higher; middle half -4.0% to +11.3%), and +2.1% 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.
