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A CSIS commentary says Henry Hub briefly rose above European and Asian gas prices in early May. It argues that the long-running regional price gaps may be closing because of low oil prices, an oversupply, and Covid-19 weakening demand.
If regional gas prices converge at low levels, US natural gas gains less from export demand, keeping domestic energy costs subdued. This is analysis rather than a new supply or demand event.
csis.orgNikos TsafosMay 15, 2020After 37 past neutral macro events, NATGAS moved a median -0.1% over 5 sessions (49% higher; middle half -4.2% to +12.9%), and -1.1% 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.
