Prices Slide in Northeast Asia, Europe on Increased Supply

摘要

Prices in Northeast Asia continued to ease, falling 100 to $16.05 per million Btu as regional buyers showed signs of wrapping up their summer demand, and declined also in Southwest Europe — for the first time in three months — by 100 to $ 11.90, according to WGI assessments for LNG cargoes for delivery four to eight weeks ahead. The UK National Balancing Point (NBP) day-ahead price as assessed by WGI slipped 120 to $9.97/MMBtu, while September NBP futures also eased by 170 to $9.97. Netbacks for Mideast sell- ers were around $4/MMBtu higher on Asian than on Southwest Europe LNG deliveries, while UK-Belgian netbacks for Mideast sellers lagged Asia by roughly $7.