Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NATGAS
Tighter fundamentals and geopolitical uncertainties have strengthened gas prices across all key markets in May, the IEA gas analyst Greg Molnar said in a LinkedIn post.
- In the US, Henry Hub prices rose nearly 30% on the month to average $2.15/MMBtu. Production cuts have cut output by 3% on the year, while gas-fired power generation is up 5.5%.
- However, current Henry Hub prices remain below average production cost of most US upstreamers.
- European TTF prices are up around 10%, amid lower LNG inflows, Norwegian outages, and risks to Russian gas imports.
- “The notice from Austria’s OMV is a start reminder that the saga with Russian gas is set to continue and could fuel price volatility over the summer,” Molnar said.
- In Asia, JKM prices also rose around 10%, reaching the lower end of oil-indexed long-term contracts.
- China’s growing LNG demand is up 25% on the year, Molnar said, while heatwaves in India and an unplanned outage at Australia’s Gorgon have been supportive.
Source: IEA/Greg Molnar
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok