Asian Prices Fall as Europe Gains on Re-Exports

摘要

Prices in Northeast Asia softened 200 to $18.20 per million Btu last week as buyers wrapped up procurement and supply increased, but in Southwest Europe gained 100 to $12.50, according to WGI assessments for spot cargoes four to eight weeks out. A well-supplied market meant prices at the UK National Balancing Point eased by 20 to $8.49/MMBtu, as assessed by WGI. June futures dropped 130 to $8.34/MMBtu. Recent price changes left netbacks for Mideast sellers around $5/MMBtu high- er on Asian than on Southwest Europe deliveries, while UK and Belgian netbacks lagged Asia by roughly $10/MMBtu. Most Japanese buyers have met July and August requirements, and are taking their time over purchases further out. Most import terminal slots are filled for July, although there is room for August.