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Global gas prices rose from record lows in late June as virus lockdowns eased and summer temperatures climbed. JKM hovered in the low-$2/MMBtu area while Dutch TTF rebounded to the upper-$1 range.
US LNG cargo cancellations did little to relieve import price pressure.
Weak LNG demand keeps global gas cheap, limiting fertilizer and energy cost pressure on feed production. Recovering demand gives modest support to prices.
daily.energybulletin.orgTom WhippleJun 25, 2020After 10 past neutral macro events, Urea moved a median -0.3% over 5 sessions (40% higher; middle half -0.7% to +2.5%), and -3.9% 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.
