Natural gas prices moderated down across all key gas markets in August amid easing market fundamentals.
In Europe, TTF prices were down 10% yoy to an average of $11/mmbtu. lower Russian piped gas deliveries were more than offset by healthy LNG availability. less stringent storage obligations provided also downward pressure on gas prices.
In Asia, JKM prices followed a similar trajectory, down by 12% yoy to an average of $11.6/mmbtu. weak demand in China and India continues to weigh on Asian spot LNG prices.
In the US, Henry Hub prices dropped by 9% month-on-month to an average of $2.9/mmbtu. record high production levels keep gas prices under pressure. in Canada, AECO averaged at just $0.54/mmbtu -its second lowest August level in history. strong production growth and limited storage place weighs on Canadian gas prices.
What is your view? how will gas prices evolve through the remainder of the year? are we set for calmer waters? or volatility could make a come back for the winter season?
Source: Greg MOLNAR
The post Gas prices ease into autumn – but Winter volatility isn’t off the table first appeared on Global LNG Hub.