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Asian, European Natural Gas Prices Hit Fresh Highs as Regions Compete for Supply - LNG Wrap

Asian and European natural gas prices on Tuesday soared to multi-month highs, continuing a run of strength as demand remained unseasonably high. Tuesday’s gains came after the prompt Title Transfer Facility benchmark finished Monday at $8.973/MMBtu and the prompt National Balancing Point broke through the $9.00 barrier to hit $9.05 after a stretch of continued strength last week. Prices were moving higher along the forward curve too. Weaker pipeline imports from Russia and Norway, along with stubborn cold across Europe and record high carbon prices, were further incentivizing natural gas for power generation and pushing up prices. “The single most important driver of higher European gas and power prices in 2021 is rising carbon prices,” said UK consultancy Timera Energy. “This is acting to pull both hard coal and lignite switching levels higher. Rising switching levels translate directly into higher European gas hub prices, with power prices following suit.”

May Natural Gas Bidweek Prices Up Sharply on Looming Heat and Strong Exports, but Appalachia Slips

May Natural Gas Bidweek Prices Up Sharply on Looming Heat and Strong Exports, but Appalachia Slips After some early-season heat last month, May natural gas bidweek prices rallied by the double-digits as warmer weather is set to build and threaten to expand storage deficits. The NGI’s May Bidweek National Avg. jumped 30.5 cents to $2.685/MMBtu. The May 2021 natural gas bidweek average was $1.06 higher than last year’s May bidweek price, which had posted its own sharp increase fueled by the easing of stay-at-home and shutdown mandates amid Covid-19. However, the May 2021 Bidweek National Average fell short of the Nymex May futures contract’s $2.925 expiration, which strengthened for three consecutive days before rolling off the board.

TTF, JKM Move Higher as Asia, Europe Compete for Natural Gas - LNG Recap

European and Asian natural gas prices continued moving higher last week and again finished strong on Monday as the regions competed for supplies.  Lingering cold in Europe, along with a drop in pipeline imports and a rise in the Japan-Korea Marker (JKM) contract, are supporting prices on the continent, where storage inventories remain about 25% below the five-year average. Below normal temperatures are expected to continue in the UK, France, Germany, Italy, Hungary, Poland, Scandinavia and the Balkans this week, while the 6-10 day period looks more normal, according to Maxar’s Weather Desk.  “All factors support the uptrend right now, as cold spring weather across Europe, supply concerns regarding Russia due to the relationship with Ukraine, and a surging carbon market all support the upturn,” said trading firm Energi Danmark in a Monday note. Day-ahead gas on the Dutch Title Transfer Facility (TTF) hub last week hit its highest level since January, while the front-year con

Canada s LNG Opportunity in the Asia-Pacific Natural Gas Market - Ven Venkatachalam and Mark Milke - Energy News for the Canadian Oil & Gas Industry

Canada s LNG Opportunity in the Asia-Pacific Natural Gas Market - Ven Venkatachalam and Mark Milke - Energy News for the Canadian Oil & Gas Industry
energynow.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from energynow.ca Daily Mail and Mail on Sunday newspapers.

BP p l c Group results - First quarter 2021

BP p l c Group results - First quarter 2021
dgap.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dgap.de Daily Mail and Mail on Sunday newspapers.

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