Prices Rise in NE Asia, But Drop in SW Europe

摘要

A bullish May market pushed up Northeast Asian spot prices by 200 to $16 per million Btu over the week, while prices in Southwest Europe dropped 100 to $10.30 as warmer weather hit demand for cargoes four to eight weeks out. Above-average UK temperatures and a well-supplied system pulled down prices at the UK National Balancing Point (NBP) by 790 to $8.88/MMBtu, as assessed by WGI, while April futures fell 350 to $9.39/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 $8/MMBtu.