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Eurasia Group says China's switch from coal to gas for home heating, mostly in late 2020, was an overlooked driver of record Asian gas prices alongside cold weather. Asian gas prices have risen more than 1,000% since July, and JKM hit a record of $32.49/MMBtu.
Prices are expected to ease as weather warms.
Chinese gas demand growth tightens global LNG supply, supporting energy costs; the expected seasonal easing points to lower gas prices ahead.
cnbc.comAbigail NgJan 19, 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.
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.
