Asian Spot Prices Tumble Nearly 40% Since Start of 2019

摘要

Northeast Asian spot prices fell 300 to $5.65 per million Btu,according to World Gas Intelligence assessments for deliveries four to eight weeks ahead,on sustained weak fundamentals.They are now nearly 40% lower than at the start of the year,but steady crude oil prices could limit further losses as potential demand emerges from traders seeking to optimize the term-spot price spread,and buyers seeking bargains.Spot prices in Southwest Europe were assessed 350 lower at $5.25/MMBtu,although competition from buyers in Mexico,Argentina,India and the Middle East could offer support.The UK National Balancing Point day-ahead price was assessed 230 lower at $5.54/MMBtu,while the April futures contract dropped 220 to $5.47/MMBtu.Netbacks for Mideast sellers in Asia were only 50 higher than in Southwest Europe,while UK/Belgian netbacks were over 100 lower than in Asia.