US natural gas prices crater - Euro gas and power prices at the highs

• Natural gas prices in the US (NG1:COM) and Europe diverge again, with Henry Hub prices down nearly 10% this morning as warmer weather is forecast to sweep across the Midwest and Northeast, hitting domestic producers Antero (NYSE:AR), EQT (NYSE:EQT), and Coterra (NYSE:CTRA).
• In Europe, gas and power prices continue to scratch at record levels, with the Continent's natural gas inventories ~23% below the same period last year and at their lowest levels, seasonally, since 2013, buoying international gas names like Shell (NYSE:RDS.A), Equinor (NYSE:EQNR) and Total (NYSE:TTE).
• And with winter weather pushing through Europe, -40c temps in Sweden have the environmental leader firing up oil-fueled power plants to meet regional power demand.
• Reported previously, unexpected outages at Gorgon and Prelude LNG plants continue to buoy an already elevated global natural gas market.

Comments

[nyc3053 Australia]

Be warned, all of that cold air over Europe will eventually get to North America, the very warm Canadian temperature mentioned by another commenter is counterbalancing the cold air elsewhere currently. Do not expect that to last indefinitely. Cold air is heavier and will sink and with the right set up will move south.

[Jcraig304]

FLNG looks good with this split

[RightWingAnon]

@Jcraig304

just opened a position a couple mins ago haha. down 5% on the day for some reason

[PGY]

If you don't like the weather, wait five minutes and it will change.

[RightWingAnon]

long TELL to take advantage of pricing arbitrage. should probably look to buy gasprom in the shorter term

[simonthecat]

Great day -- I am layering in some purchases of BOIL here, as I think that it gets COLD later this week here in the US which should cause prices to spike.

[Jeff Pokorny]

But solar and wind are free....he said, sarcasm fully turned on.

[Entreri]

Interesting. Oh Putin.

The city I am in Canada is mild, 10C. Global warming.

[claytonmonica]

@Entreri So the temperature in your city is 10C. Before you attribute this oddly high temperature to global warming. You should contemplate the difference between weather and climate.

[vooch]

@Entreri

Good - now Biden can push LNG exports to EU and fulfill his promises

[Truls]

@Entreri Record cold in parts of Alaska these days.

[elwalle]

long oil........short gas