{"id":19612,"date":"2023-06-07T17:40:59","date_gmt":"2023-06-07T21:40:59","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/commodities\/global-gas-prices-could-fall-50-on-resilient-supply-citi\/"},"modified":"2023-06-07T17:41:00","modified_gmt":"2023-06-07T21:41:00","slug":"global-gas-prices-could-fall-50-on-resilient-supply-citi","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=19612","title":{"rendered":"Global gas prices could fall 50% on \u201cresilient supply\u201d – Citi"},"content":{"rendered":"
\n

Investing.com – Global gas prices could fall as much as 50% year-on-year as weak demand and resilient supply force European and Asian markets for the fuel to experience the sort of downside already present in , analyst at Citigroup <\/span><\/span> (NYSE:) said in a note issued Wednesday.<\/p>\n

\u201cSupply is resilient:\u00a0 global\u00a0 oil\u00a0 and\u00a0 U.S.\u00a0 natural\u00a0 gas\u00a0 production\u00a0 is\u00a0 still\u00a0 climbing\u00a0 while remaining flat for global LNG,\u201d Citi\u2019s analysts said, referring to liquefied natural gas.\u00a0<\/p>\n

\u201cWhile could be range-bound between $72 and $90\/bbl\u00a0 even\u00a0 with\u00a0 the\u00a0 latest\u00a0 Saudi\u00a0 production\u00a0 cut,\u00a0 global\u00a0 natural\u00a0 gas\u00a0 and\u00a0 coal\u00a0 prices\u00a0 have\u00a0 more\u00a0 downside,\u201d they added.\u00a0<\/p>\n

The Citi note said its base case for the third quarter was gas on the U.S. Henry Hub averaging $2.20 per million metric British thermal units; $3.80 on Dutch exchange \u00a0and $4.80 for the \u00a0marker for Japan and Korea.<\/p>\n

\u201cFor\u00a0 TTF\u00a0 and\u00a0 JKM,\u00a0 that\u00a0 would\u00a0 be\u00a0 ~50%\u00a0 below\u00a0 current\u00a0 forwards,\u201d said Citi, projecting levels for the two that could match Henry Hub prices, which are already down nearly 50% on the year.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Investing.com – Global gas prices could fall as much as 50% year-on-year as weak demand and resilient supply force European and Asian markets for the fuel to experience the sort of downside already present in , analyst at Citigroup (NYSE:) said in a note issued Wednesday. \u201cSupply is resilient:\u00a0 global\u00a0 oil\u00a0 and\u00a0 U.S.\u00a0 natural\u00a0 gas\u00a0 […]<\/p>\n","protected":false},"author":1,"featured_media":3062,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[242],"tags":[83],"class_list":["post-19612","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-commodities","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nGlobal gas prices could fall 50% on \u201cresilient supply\u201d - Citi | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Investing.com - Global gas prices could fall as much as 50% year-on-year as weak demand and resilient supply force European and Asian markets for the fuel\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=19612\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Global gas prices could fall 50% on \u201cresilient supply\u201d - 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