Global gas prices soaring

A long cold winter which drained stocks, a summer heat wave with lower wind speeds, hurricanes in the U.S and restricted gas flows from Russia have all combined to cause a dangerous surge in gas prices
 

SPOT PRICES IN KEY MARKETS		

Record low prices at end of 2020

Asia: JKM (Japan Korea Marker) spikes to $32.50 in cold snap

U.S.: Arctic weather hits southern states – Henry Hub price hits $23.86

Europe: Dutch TTF (Title Transfer Facility) up over 250% since Jan

		
				U.S.$/MMBtu 	35
						30
						25
 
						15
						10 
						5

OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG


                             
EUROPEAN LNG STORAGE (% full)
    
76.45	73.65	92.84 	91.08	67.61
2017 	2018 	2019	2020 	2021

Post-pandemic economic recovery, particularly in Asia, has increased demand 


Sources: Bloomberg, S&P Global, Bruegel 
Picture: Getty Images 
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