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European gas prices fell to about $2 per MMBtu, with the March TTF index at $2.91 and NBP at $2.88. Mild winter weather, a Ukraine transit deal and coronavirus-driven LNG weakness drove the decline, and a summer oversupply is possible.
Cheap European gas lowers nitrogen fertilizer production costs and can reduce fuel costs for processors, but the effect on feed prices is indirect.
oxfordenergy.orgBy: Mike FulwoodMar 12, 2020Not 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.
European gas near $2/MMBtu on mild weather and LNG oversupply cut US LNG export margins and raised the risk of US cargo cancellations, which would reduce feedgas demand.
