LNG spot prices in Northeast Asia rose 100 to $4.75 per million Btu on the back of reported deals and stronger prices on the UK National Balancing Point (NBP), according to WGI assessments for LNG cargoes for delivery four to eight weeks ahead. In Southwest Europe, spot LNG prices were assessed 10c higher at $4.30/MMBtu. The NBP day-ahead price was assessed 54c higher at $4.89/MMBtu — its highest since December — while July futures jumped 300 to $4.54 as a result of maintenance and cooler weather. Netbacks for Mideast sellers in Asia were 230 higher than in Southwest Europe, while UK/ Belgian netbacks were 170 lower than in Asia.
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