Commodity Market Report
Global gas & LNG weekly summary: 9 Mar 2023
Report summary
TTF’s front-month contract settled at $13.29 on Wednesday, down from $15 a week ago, as overall European demand ticked down despite a cold snap in Northwest Europe. We continue to think that the market will likely overshoot to the downside before seeing demand emerge in a big way, as traders watch to see if low prices are here to stay. NBP was able to take a premium over TTF for the first time since December, 2021. Northeast Asian prices fell to $12.98, as warm March weather shied away most buyers, but there are continuing signs of price sensitive LNG demand emerging. Henry Hub’s March contract was trading at $2.60 intraday on Thursday, down from $2.80 at this time last week, as the contract gives up some of its major gains last week. A colder weather outlook in the U.S. and record feedgas to U.S. LNG facilities last week had initially rocketed HH to $3 last Friday up from its sub-$2 low a few days earlier.
Table of contents
- European prices fall again as demand falls despite what appears to be a short-lived cold snap in UK and Northwest Europe
- Download the PDF and Excel datapack in the reports download section
Tables and charts
This report includes 1 images and tables including:
- Prices as of 8 Mar 2023
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