With winter fading in the UK, most spot cargoes are heading to Asia or being pushed back to the US, where some unusually cold weather has driven down gas storage, but done little to prop up prices now under $5 per million Btu at Henry Hub. The Transatlantic spread still favors the US East Coast, but gas futures contracts for March and April are almost neck-and-neck across the Atlantic (see table on right). Asia demand is up again, with spot cargoes for February and March delivery in the $7-$8/MMBtu range (WGI Jan.13,p6).
展开▼
