Prices Rise in Northeast Asia, Europe as Winter Approaches

摘要

The approach of winter continues to pull up prices in Northeast Asia, which jumped 350 to $15 per million Btu over the past week, according to WGI assessments for spot cargoes for delivery four to eight weeks out, and increased 100 to $10.80 in Southwest Europe. The day-ahead price at the National Balancing Point (NBP) jumped 350 to $10.69 on forecasts of colder weather, as assessed by WGI, although December futures inched down 20 to $10.73. Recent pricing changes left netbacks for Mideast sellers nearly $4 higher on Asian man Southwest Europe deliveries, while UK and Belgian netbacks for Mideast sellers lagged Asia by over $5/MMBtu.