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U.S. natural gas is on track to become the world's most expensive gas for the first time in more than a decade, as COVID-19 lockdowns cut demand in Europe and Asia. U.S. futures rallied about 10% in April on bets that the oil crash would curb associated gas output, while Asian and European prices fell to new lows.
The narrowing of the global gas price premium weakens the economics of U.S. LNG exports, while the expected output cut from lower oil drilling supports domestic prices.
energynow.com23 avr. 2020Après 155 événements macro haussier passés, Gaz naturel a varié en médiane de +0,1 % sur 5 séances (51 % de hausses ; moitié centrale de -4,0 % à +7,1 %), et de +2,0 % sur 20.
Variations du benchmark de chaque matière depuis la dernière clôture avant l'événement. Les lectures historiques regroupent les événements passés de même nature ; elles décrivent ce qui s'est passé, pas ce qui arrivera. Ceci n'est pas un conseil en investissement.
Describes U.S. futures rallying about 10% in April on bets that the oil crash would curb associated gas output; it is dated after the window but confirms the supply-driven mechanism.
Describes the April rally on bets that the oil crash will curb associated gas output, confirming the supply-expectation mechanism, though it is published a day after the window ends.
