Asian Prices Hit Record High on South American Competition

摘要

Northeast Asian prices surged 750 to a record $18.70 per million Btu as buyers raised bids in an attempt to land prompt cargoes in the face of competition from South America, according to WGI assessments for cargoes for delivery four to eight weeks ahead, topping the $18.40/MMBtu high assessed by WGI last May (WGI May30' 12). Prices in Southwest Europe jumped $1 to $14.40/MMBtu on the higher South American demand, as assessed by WGI. The day-ahead price at the UK's National Balancing Point (NBP) fell 200 to $10.77/MMBtu due to oversupply, as assessed by WGI, February futures dropped 350 to $10.46/MMBtu.