NGI - November Natural Gas Futures Debut with Thud as Volatility Reigns; Cash Prices Drop in Tandem

September 29, 2021 – Natural Gas Intelligence

November Natural Gas Futures Debut with Thud as Volatility Reigns; Cash Prices Drop in Tandem

By: Kevin Dobbs

Though summer heat is fading and winter chills are unlikely to settle in for several weeks, markets are looking for continued elevated LNG volumes to fuel energy needs in Asia and Europe. Supplies in Europe are lean and demand is surging in parts of Asia, led by power needs in China. This is pushing gas prices to record levels on both continents, galvanizing demand for U.S. LNG and supporting American gas prices.

“With multiple energy markets around the world facing natural gas shortages, buyers are clamoring for more LNG,” RBN Energy LLC analyst Lindsay Schneider said. “Pre-winter panic-buying has sent global gas prices to record highs yet again the past couple of days.”

She noted this helped drive Henry Hub gas futures up to new post-2008 records this week — above $6.00 in intraday trading Tuesday. “With the incredible run in global gas prices, U.S. export economics have looked extremely attractive.”

Read the full article here: https://www.naturalgasintel.com/november-natural-gas-futures-debut-with-thud-as-volatility-reigns-cash-prices-drop-in-tandem/