Commodity Market Report
Global gas & LNG weekly summary: 23 Feb 2023
Report summary
TTF’s front-month contract settled at $15.5 on Wednesday down from $17 a week ago, as demand fell further for another week with a greater departure from average and supply stayed resilient. While the absence of cold in Europe continues to support the TTF bears, Asian prices now at $14/mmbtu appear to be attracting a wave of demand from price-sensitive Asian buyers which may be enough to support prices near these levels for now. TTF’s premium over Northeast Asia widened for deliveries this spring while staying flat or narrowing down the rest of the forward curve for 2023 as the more profitable destination for a U.S. cargo.
Table of contents
- HH and TTF continue to slide, as mild weather causes demand to fall further below average and supply stays resilient. Price-sensitive Asian buyers come off the sidelines.
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Tables and charts
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- Prices as of 23 Feb 2023
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