Prices Slide in Asia, Europe as Ample Supply Meets Weak Demand

摘要

Prices in Northeast Asia have softened for the fifth week running, easing 150 to $15.25 per million Btu on ample supply and tepid demand, and fell in Southwest Europe by 250 to a two-month low of $11.65, according to WGI assessments for LNG cargoes for delivery four to eight weeks ahead. The UK National Balancing Point (NBP) day-ahead price as assessed by WGI dropped 140 to $9.91, while September NBP futures fell 80 to $9.93. Netbacks for Mideast sellers were about $3.20 higher on Asian than on Southwest Europe LNG deliveries, while UK-Belgian netbacks for Mideast sellers lagged Asia by roughly $6.20.