NGWow...Nymex NG is down 6 cents to under 1.85...unreal.
1.85 nymex ng and 76.36 WTI lol.
This perfect scenario for Biden, Europe and China.
Shipping fuel will turn to compressed NG. Plastics will shift to more NG.
Oil is slowly going to be not competitive.
China has a swath of EV's they need to export and with world LNG prices crashing...it will make TONS more economic sense to electrify.
LNG was over 20 bucks a gigaghoule last year at this time...it didnt make sense to replace gasoline with power as power prices were insanely expensive.
Watch by the end of 2024 when oil demand doesnt match expectations...be shock in the analyst community lol that this was so hard to see in advance.