European, Asian Natural Gas Prices See Another Week of Gains as Fundamentals Unchanged — LNG Recap

Natural gas prices in Europe and Asia pressed higher last week, topping multi-month highs and continuing a bull run that has persisted for much of the spring. 

In Europe, prompt prices notched their third straight week of gains. The Title Transfer Facility contract broke through $9.00/MMBtu and closed well beyond that mark most of the week. The National Balancing Point was stable at over $9 and pressed higher throughout the week as Japan-Korea Marker (JKM) futures did too. 

Fundamentals have remained largely unchanged, with colder-than-normal weather, record high carbon prices and weak pipeline imports driving demand in Europe. Strong spot buying and supply outages from Australia to the United States are also pushing up prices in Asia. Spot JKM prices held strong and finished...