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Chinese demand for LNG has fallen sharply since January amid coronavirus lockdowns, and CNOOC sought to reject contracted February and March cargoes. Shell and Total rejected the force majeure claims, while East Asian gas pricing is shifting away from oil indexation.
Weak Chinese gas demand and pricing pressure lower energy costs for Asian processors and may ease prices for gas-based fertilizer inputs.
uts.edu.auUniversity of Technology SydneyMar 2, 2020After 299 past bearish events of any kind, Natural Gas moved a median -3.7% over 5 sessions (36% higher; middle half -10.5% to +2.7%), and -3.1% 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.
