Northeast Asian spot prices inched up 5￠ to $7.65 per million Btu last week as portfolio players and traders outbid end-users for an Australian sell tender, according to WGI assessments for LNG cargoes for delivery four to eight weeks ahead. They are now 75￠ higher than in Southwest Europe, where WGI assesses prices down 5￠ at $6.90. The UK National Balancing Point (NBP) day-ahead price rose by 7￠ to $6.94, as assessed by WGI, and April NBP futures by 5￠ to $6.90. Netbacks for Mideast sellers were roughly 70￠ higher on Asia than Southwest Europe deliveries, while UK/ Belgian netbacks for Mideast sellers lagged Asia by around 80￠.
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