# $2 gas in Europe is here: who will blink first? - Oxford Institute for Energy Studies

> 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.

- Date: 2020-03-12 · published 2020-03-12T12:00:00.000Z
- Category: market · region Europe · magnitude low
- Page: https://feedsoft.ai/events/54314-2-gas-in-europe-is-here-who-will-blink-first-oxford-institute-for-energy-studies
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Cheap European gas lowers nitrogen fertilizer production costs and can reduce fuel costs for processors, but the effect on feed prices is indirect.

## Read by commodity

- NATGAS: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| NATGAS | 2020-03-19 | 5 | -13.8% | -3.0 | 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. |

## Sources

- oxfordenergy.org: https://www.oxfordenergy.org/publications/2-gas-in-europe-is-here-who-will-blink-first/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.