South Korean Buying Fails to Spur Asian Prices

摘要

Korean buying couldn't stop Northeast Asian spot prices continuing to soften on forecast mild late-winter weather, dropping 20￠ to $9.75 per million Btu, according to WGI assessments for LNG cargoes for delivery four to eight weeks ahead, while prices in Southwest Europe remained steady at $9.30. The UK National Balancing Point (NBP) day-ahead price assessed by WGI edged up 8￠ to $9.08, while January NBP futures were unchanged, also at $9.08. Netbacks for Mideast sellers were only 40￠-50￠ higher on Asian than Southwest Europe deliveries, while UK-Belgian netbacks for Mideast sellers lagged Asia by just 70￠-95￠.