US LNG exports reached their second-highest level on record, driven by higher European demand ahead of winter. Exports to Europe rose by 1 million tons in October to 6.89 million tons, while Asian volumes were little changed at 2.73 million tons.
European gas prices have moved above 100 euros per MWh, and the EU is taking all the Russian LNG it can get.
Strong European pull for US LNG tightens the North American gas balance and supports US gas prices. Expensive gas-fired power in Europe can also raise the cost of fertiliser and processing inputs.
After 59 past bullish trade events, Natural Gas moved a median +1.3% over 5 sessions (61% higher; middle half -2.7% to +10.6%), and +8.0% 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.