The chart tracks natural gas storage levels across the northern latitudes heading into the 2022-2023 winter, alongside the leading regional price benchmarks. Storage operators have moved aggressively to fill inventories in advance of peak seasonal demand.
That effort has come at a steep cost. On an energy-equivalent basis, both the European benchmark (TTF, the Dutch pricing location) and the East Asian benchmark (JKM, the Japan Korea Marker) have traded well above Brent crude oil.
The elevated pricing underscores the premium buyers in Europe and East Asia have been willing to pay to secure supply ahead of the heating season, and the tightness in global gas markets as the northern hemisphere approached winter.
From the EPRINC Chart of the Week archive.