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Gas Prices Steady While Watching Middle East

LNG

European LNG prices were flat on Monday closing at EUR 51.10, after an intraday high of EUR 51.90. They started the session falling to a low of EUR 47.85 due to a stabilisation in Middle East risks and forecasts of mild weather. Inventories also remain high in Europe. They then trended up from later in the European morning. Prices are 33.7% higher since the attacks on Israel and remain sensitive to developments in the region.

  • North Asian prices rose another percent to be up 27% this month. Project developer Tellurian noted that if demand responded to a cold winter in either Europe or Asia there would be a sharp rise in prices, according to ANZ.
  • US gas prices rose only 0.6% on Monday and have started APAC trading slightly higher. Expectations of mild weather and rising output also kept a lid on them.
Energy BulletsCommodities
Energy BulletsCommodities

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