Natural Gas Prices in the United States:

Natural gas prices in the U.S. surged to 2,865 USD per 1,000 MMBtu in June 2024, driven by several key factors. Increased demand due to hot weather and active market usage put pressure on supply, while production faced constraints from maintenance delays and slower progress on new well projects. Elevated liquefied natural gas (LNG) exports further strained local availability, adding to the price pressure. This combination of seasonal demand, robust market activity, and production limitations led to significant price increases, reflecting both strong demand and unpredictable growth in the sector.

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APAC Natural Gas Prices Movement Last Quarter:

Natural Gas Prices in China:

In Q2 2024, natural gas prices in China surged to 2,864 USD per 1,000 MMBtu, driven by several critical factors. The post-pandemic industrial recovery led to higher energy demand, particularly during the hot summer months, which intensified the need for power. Meanwhile, limited local production and disruptions in the international LNG supply chain exacerbated the situation, contributing to the sharp price increase. Additionally, China's ongoing energy shift toward cleaner, purer gases further boosted natural gas consumption, highlighting its growing role in meeting power needs. Seasonal factors also amplified demand, making it increasingly difficult for the country to balance supply stability with dynamic consumption patterns.

MEA Natural Gas Prices Movement Last Quarter:

Natural Gas Prices in Saudi Arabia:

In Q2 2024, natural gas prices in Saudi Arabia reached 2,799 USD per 1,000 MMBtu, driven by several key factors. Rising domestic energy demand, particularly from an expanding manufacturing sector, placed upward pressure on prices. The country's investments in LNG infrastructure and export capabilities also influenced the market, positioning Saudi Arabia to play a larger role in the global energy market. Additionally, seasonal peaks in air cooling demand during high summer temperatures further strained supply, contributing to steady price growth. The overall market remained positive, reflecting a climate of robust demand dynamics and strategic investments in energy infrastructure.

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