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Reuters reports that an influx of LNG into Europe since October has shifted European gas price spreads, letting traders buy more long-term and spot gas from Gazprom. U.S. LNG sales to Europe rose nearly fivefold in October to January compared with a year earlier.
The oversupply has pushed storage levels high and narrowed price spreads.
Extra LNG supply is depressing European gas prices and redirecting flows toward Russian pipeline gas, which weighs on the global gas price outlook.
reuters.comEkaterina KravtsovaFeb 15, 2019After 24 past bearish trade events, Natural Gas moved a median +2.8% over 5 sessions (54% higher; middle half -4.5% to +7.3%), and -1.2% 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.
