While the 2023/2024 peak demand season.Relatively full natural gas inventories in the united states and europe as well as expanded global export and import capacity for liquefied natural gas (lng) have improved the likelihood that supply will be sufficient to meet demand in global natural gas.
Natural gas increased 0.05 usd/mmbtu or 1.99% since the beginning of 2024, according to trading on a contract for difference (cfd) that tracks the benchmark market for this commodity.Natural gas futures for delivery in the henry hub in erath, louisiana, fell over 40% in 2023, settling at around the $2.50 per mmbtu level.Natural gas prices are set to end 2023 down by approximately $1.93 or 43% for the year.
Range as of 1h april 2024, which is nearly 20% higher.Natural gas market analysts are cautioning about a looming oversupply until 2024.
In 2024, global gas demand is forecast to grow by 2.5%, or 100 billion cubic metres (bcm).Data reflects annual average liquefied natural gas exports by country.The henry hub spot price rose 6 cents from $2.39 per million british thermal units (mmbtu) last thursday to $2.45/mmbtu yesterday.
In just eight years, the united states has rocketed from barely.
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