Global gas & LNG weekly summary: 5 Oct 2023 Report

Commodity Market Report 06 October 2023

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Report summary

The oversupply weighed heavier on prices this week. TTF posted declines along the entire curve as of 4 Oct settles, with Nov posting the largest decline of ~12%. NE Asia also posted declines along the curve, averaging ~5% drops. NE Asia has held onto the netback price premium for the second week in a row now. In contrast, Henry Hub remained mostly flat along the curve with prompt month increasing to the $3 mark. Australian strikes may resume again, with the union voting to restart after an apparent failure with the deal that was previously agreed upon.

While oversupply weighs heavy on prices this week, the resumption of Australian strikes will bring back uncertainty to the market
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