Natural Gas News: Europe Lacks Supply, So It Turns to Asia / Commodities / Natural Gas
What’s happening in the natural gasmarkets? Prices are surging like crazy. The answer may be complex, but I’m hereto provide it.
MarketAnalysis
Today, we expect the market to beaccumulating since the U.S. Energy Information Administration (EIA) on Thursdayreported an injection of 88 billion cubic feet (Bcf) of natural gas intostorage for the week ending on Sept. 24. This could indeed be explained bywarmer temperatures and entering the month of October.
NewFutures Market in Turkey
For those interested in watching foreignenergy markets, please note that today marks the start of the Turkish NaturalGas Futures Market (NFM), a new milestone in the Nat-Gas trade.
(Source:Turkey Energy Outlook)
EuropeanGas
Gas prices are still fuelled by supplyconcerns in Europe, where inventories are recording multi-year lows. FYI, wealso talked about this in aprevious edition of Oil TradingAlerts.
(Source: EnergyScan)
The sudden spike in Asia JKM November2021 prices could be explained by the fact that European buyers are forced tokeep competing aggressively with their Asian counterparts to attract LNGcargoes (Liquefied Natural Gas Transportation).
Figure 1 – Henry Hub Natural Gas (NGX21)Futures (November contract, daily, logarithmic scale)
Figure 2 – Henry Hub Natural Gas (NGV21)Futures (October contract, weekly chart, logarithmic scale)
Inbrief, today we provided you with some recent updates regarding the marketdevelopments for various natural gas markets in order to get a wider view ofwhat’s happening in them. Nobody said it’s impossible to navigate through them.That’s what I do best – I keep an eye on everything energy-related happening inthe world. Detailed positions for oil/natural gas trading can be found in my premium Oil TradingAlerts.
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Thank you.
Sebastien Bischeri
Oil & Gas Trading Strategist
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