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Supermajor oil producers including Exxon, Shell, Chevron, Total and BP saw sharp drops in gas realizations in the second quarter of 2019. Henry Hub prices reached their lowest seasonal levels in two decades as Appalachian and West Texas output hit records.
Spot LNG prices in Europe and Asia also fell as new export terminals added supply.
Persistent gas oversupply in the US and LNG markets keeps energy costs low for feed and fertilizer producers. Weak gas prices reduce the incentive for producers to curb output.
businesstimes.com.sgAug 4, 2019Not enough comparable past events yet for a historical read.
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.
