Autumn and winter are traditionally characterized by the growth in energy consumption and, thus, in prices for energy products. Still, natural gas prices in the US, Europe, and Japan showed different dynamics in November. Thus, the spot price of natural gas at Henry Hub, US, fell by 15.2% in November compared to the previous month. This decline - which was the sharpest monthly drop since December of 2014 - interrupted a period of steady growth lasting from April. On the contrary, in Europe, average import border price of natural gas surged by 14.4% - the most dramatic monthly increase over the last 17 years. What for the import price of liquefied natural gas in Japan, it leveled off at the October's level freezing upward trend which started in June.
Leading international agencies made the following natural gas price predictions during the second half of the previous year:
2015 -2016 years were not successful for the natural gas price. The reason is the same as that for oil's fall which includes a slowdown in the global economy and as result reducing consumption of Natural gas. Perhaps 2017 will be the year of changes for gas prices.
View more energy statistics and visualizations related to energy, including the estimated breakeven cost of oil production by country, natural gas price dynamics and insights from the BP Energy Outlook 2035, or dive deeper into historical commodity prices from the World Bank and IMF or commodity price forecasts.
You can also explore with Knoema a variety of other critical commodities, including:
As you examine commodity prices and forecasts, you may also be interested in economic forecasts for the G20 countries across the following indicators: GDP growth | inflation | unemployment | government debt | current account balance | external debt.
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