# Nat-Gas Prices Soar as an Outage Cuts Norwegian Gas Supplies

> July Nymex natural gas closed up 6.53% on Monday, June 3, 2024, after an unplanned outage at Norway's Nyhamna gas processing plant cut European supplies. Lower-48 production was 98.9 bcf/day and forecasts called for hotter-than-normal US summer temperatures.

- Date: 2024-06-03 · published 2024-06-03T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/7806-nat-gas-prices-soar-as-an-outage-cuts-norwegian-gas-supplies
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [Live Cattle](https://feedsoft.ai/c/LCATTLE.md)

## Why it matters

Higher European demand for US LNG and expected summer power burn support US gas prices. This is an energy-wide move with limited direct effect on feed grain prices.

## Read by commodity

- NATGAS: bullish ▲
- LCATTLE: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2022-07-29 | [European Natural Gas, Asian LNG Prices Soar on NS1 Supply Cuts](https://feedsoft.ai/events/40665-european-natural-gas-asian-lng-prices-soar-on-ns1-supply-cuts.md) | -2.1% | +11.7% |
| NATGAS | 2026-06-23 | [Natural gas: Heat and outages support prices – Commerzbank](https://feedsoft.ai/events/18986-natural-gas-heat-and-outages-support-prices-commerzbank.md) | +1.5% | -11.7% |
| NATGAS | 2026-03-03 | [Natural gas, LNG prices soar on Middle East supply fears](https://feedsoft.ai/events/20365-natural-gas-lng-prices-soar-on-middle-east-supply-fears.md) | +7.0% | -3.1% |
| NATGAS | 2021-11-23 | [Supply Outages, Weather Forecasts Keep Global Natural Gas Prices Strong -- LNG Recap](https://feedsoft.ai/events/44230-supply-outages-weather-forecasts-keep-global-natural-gas-prices-strong-lng-recap.md) | -5.5% | -18.6% |
| NATGAS | 2026-03-08 | [Oil prices surge 20% as expanding US-Israeli war with Iran cuts supplies from Mideast - CNA](https://feedsoft.ai/events/6784-oil-prices-surge-20-as-expanding-us-israeli-war-with-iran-cuts-supplies-from.md) | +0.7% | -7.0% |
| LCATTLE | 2020-07-17 | [The rotten apples of Brazil's agribusiness \| Science](https://feedsoft.ai/events/52142-the-rotten-apples-of-brazil-s-agribusiness-science.md) | -1.0% | +4.6% |
| LCATTLE | 2022-03-11 | [What will the war in Ukraine do to beef markets? - High Plains Journal](https://feedsoft.ai/events/42412-what-will-the-war-in-ukraine-do-to-beef-markets-high-plains-journal.md) | +0.5% | +0.3% |

## Sources

- barchart.com: https://www.barchart.com/story/news/26595893/nat-gas-prices-soar-as-an-outage-cuts-norwegian-gas-supplies

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