Northeast Asian spot LNG prices surged 90c to $6.45 per million Btu, the biggest jump in nearly two months, according to World Gas Intelligence assessments for deliveries four to eight weeks ahead. Spot prices in Southwest Europe were assessed 40c higher at $5.i5/MMBtu. The UK National Balancing Point (NBP) day-ahead price was assessed 12C higher at $5.l7/MMBtu, while the ICE NBP November front-month contract rose 33c to $5-36/MMBtu. Netbacks for Mideast sellers in Asia were $i.30/MMBtu higher than in Southwest Europe, while UK/Belgian netbacks were $l.40/MMBtu lower than in Asia. Asian prices spiked over the past week as bulls ran riot. Forecasts for a cold-er-than-normal winter across Northeast Asia stoked demand for restocking.
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