Natural Gas Market Update - July 29
Posted: Wed Jul 29, 2020 6:39 pm
Read: https://globallnghub.com/articles/lng-s ... -term-gain
The reason the January NYMEX contract for HH natural gas closed today over $3.00/MMBtu and more than a dollar higher than the August contract, is because several supply/demand fundamentals are lining up that point to a much tighter global gas market within six months (with or without a cure for COVID-19). One is that demand for LNG in Asia should be a lot higher this coming winter.
The reason the January NYMEX contract for HH natural gas closed today over $3.00/MMBtu and more than a dollar higher than the August contract, is because several supply/demand fundamentals are lining up that point to a much tighter global gas market within six months (with or without a cure for COVID-19). One is that demand for LNG in Asia should be a lot higher this coming winter.