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Global LNG prices eased in early March 2018 as the market absorbed an earthquake-related outage at ExxonMobil's Papua New Guinea export facility, which declared force majeure. Asia spot LNG was about $8.50/mmBtu, down from $8.80 the prior week, as Northern Hemisphere demand fell into spring.
The outage removed supply for weeks, but seasonal demand decline is outweighing it, so near-term gas prices are softening. Lower gas prices reduce the cost of gas-based fertilizer and ethanol inputs.
energynow.comMar 9, 2018After 29 past bearish logistics events, Natural Gas moved a median -9.8% over 5 sessions (21% higher; middle half -20.0% to -3.1%), and -16.6% 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.
