Global natural gas prices again moved higher last week as forecasts trended colder, and supply disruptions and a tight shipping market continued. 

Spot prices in North Asia moved above $11.00/MMBtu last week, hitting a new two-year high. One bid for a January cargo was reportedly placed for more than $12.00 as the week got underway. Meanwhile, European natural gas prices moved upward for the third week in a row and front month Henry Hub finished higher on Friday after a volatile week as forecasts show chillier weather on the way in the United States.  European and U.S. benchmarks also posted gains on Monday. 

Congestion in the Panama Canal, ongoing supply outages and colder weather forecast for China, Japan and South Korea are all supporting the Japan Korea Marker (JKM). The JKM...