Natural Gas Prices Hit Record High In China

Natural gas prices in China have gained as much as 80 percent over the last month to reach a record high amid freezing weather and tight supply. Bloomberg reports that temperatures in many parts of China were colder than usual for the season and would continue to put pressure on gas supplies until later this week, especially in the northern part of the country.

This could prompt Chinese traders to look for LNG cargoes on spot markets, which would further aggravate the deficit on those markets. This could, in turn, create problems for Europe, which…