Global natural gas markets moved closer together last week with leading benchmarks posting significant gains as the outlook is seen improving.

Henry Hub gas for September delivery jumped 33.5 cents week/week to average $2.090/MMBtu on Friday, while the prompt contract at the Dutch Title Transfer Facility (TTF) and the UK’s National Balancing Point both gained about 60 cents or more week/week. A tightening European market also helped push spot prices for September and October delivery in North Asia up by more than 60 cents, demonstrating how closely all three markets have integrated. 

Fewer cargo cancellations next month as the forward curve improves in Asia and Europe, along with weather-driven demand, weaker production and stronger industrial consumption in the United States...