Commodity Market Report
Global gas & LNG weekly summary: 11 Jan 2024
Report summary
High gas stockpiles spurs price decline in gas markets despite seasonal cold snap This week European and Asian prices continued to track downward. Feb TTF started the week at $10.66/mmbtu and closed around ~ $9.97/mmbtu, a decline of $0.69/mmbtu. At this price point, TTF is positioned in the lower half of the coal-to-gas switching range, suggesting that high inventory is placing downward pressure on prices to generate more demand. The Feb NE Asia DES contract began the week at $10.81/mmbtu and concluded at ~$10/mmbtu, registering a decrease of ~ 80 ₵/mmbtu and setting a new 6-month low. Conversely, Henry hub prices started the week at $2.8/mmbtu and ended up at $3.2/mmbtu, this followed a midweek spike where the price rose to as high as $3.3/mmbtu in response to a cold front.
Table of contents
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Global supply remains high with cooler temperatures and demand increases on the horizon
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Tables and charts
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- Prices as of 20 Dec 2023
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