LNG

June 10 (LNGJ) - European and US natural gas prices have risen with the recent oil surge, with the latest UK National Balancing Point benchmark price being the equivalent of $4.80 per million British thermal units compared with the US Henry Hub front-month futures price of $2.60 per MMBtu. The US natural gas price that reflects LNG export values has also risen because of forecast increases in summer US demand. “Heading into the summer cooling season, the New York Mercantile Exchange (Nymex) natural gas contract for July has markedly exceeded Henry Hub spot prices, likely reflecting expectations for summer natural gas consumption to increase substantially from current levels,” the US Energy Information Administration said.