After remaining more or less stable for a few weeks, spot LNG prices in Northeast Asia have* jumped 50￠ to $15.20 per million Btu over the past week on increased April demand, and in Southwest Europe firmed 50 to $10/MMBtu on Iberian and Turkish demand, according to WGI assessments for spot cargoes four to eight weeks out (WGI Feb.22' 12). Milder weather in the UK limited gas demand last week, although the prospect of lower temperatures pulled up prices at the UK National Balancing Point (NBP) this week. Day-ahead NBP prices gained 67￠ to $9.71/MMBtu, as assessed by WGI, while March futures rose 770 to $9.77/MMBtu. Recent price changes left netbacks for Mideast sellers nearly $5/MMBtu higher on Asian than on Southwest Europe deliveries, while UK and Belgian netbacks lagged Asia by roughly $6/MMBtu.
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