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Why gas prices have fallen this winter
Spot gas prices in Europe have fallen around 35% since the start of winter. 2024 forward prices in Europe (e.g. TTF) and Asian (e.g. JKM) have fallen by a similar magnitude. In today’s article we set out what is happening and why. Chart 1 summarises key spot gas & oil price benchmarks (TTF, JKM, Brent parity) showing: 1. How front month spot prices have evolved since the start of winter (i.e from Oct 1st 2023 to Jan 31st 2024) 2. Recent forward curves, coal switching price (CSP) range & US LNG ‘shut in’ range chart The key drivers behind falling prices have been a mild winter, ongoing demand weakness and a ... (full story)
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- Posted: Feb 12, 2024 9:19am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 244
