Asian Price Free Fall Pauses, Europe Drops Too

摘要

After a seven-week decline, Northeast Asian prices rose 30￠ to $6.90 per million Btu, according to WGI assessments for LNG cargoes for delivery four to eight weeks ahead Assessments were lifted by higher-than-expected prices for tendered cargoes as traders worry that optimization moves by portfolio players will create Asian supply tightness, despite weak demand. But prices are still 50￠ lower than in Southwest Europe, assessed by WGI at $7.40, down 20￠ on the week. The UK National Balancing Point (NBP) day-ahead price assessed by WGI dropped by 32￠ to $7.60, and March NBP futures by 43￠ to $7.47. Netbacks for Mideast sellers are now around 700 lower on Asian than Southwest Europe deliveries, while netbacks in the UK/Belgium exceed those in Asia by around 60￠-90￠.