European LNG and wholesale natural gas day-head andfutures prices declined over the past week as mid-Summer arrived and storage began to swing towards peak levels while cargo deliveries slowed to Chinese and European regasification terminals.
European LNG and wholesale natural gas prices surged over the past week as a lack of confidence prevailed in energy markets over restrictive European policies while Asian LNG demand increased and futures prices from the US to India were strong through to the year-end.
European LNG and wholesale natural gas prices dropped by almost 5 percent over the past week while North Asian spot LNG cargo prices were firmer even as cargo volumes pointing at Japan began to decline amid high storage levels as is normal at this time of year in the East and West of the Northern Hemisphere.
European and Asian liquefied natural gas prices and futures surged again as Israel targeted military assets in Iran overnight with a wider Middle East conflict threatening LNG cargo deliveries from Qatar as departures were lower this week because of shipping security as well as weather issues.
European natural gas and North Asian spot cargo prices declined again towards levels last seen three years ago as supplies and storage levels were ample despite colder weather with high flows of LNG cargoes towards Europe along with steady flows of winter pipeline gas from Norway.
European liquefied natural gas prices rebounded for the week after four straight weeks of declines with the wholesale market price defying milder weather conditions, high storage and the most optimum spell this winter for the use of wind power while North Asian spot cargo prices also edged higher.
European and Asian liquefied natural gas prices fell over the past week with the Dutch Title Transfer Facility benchmark declining by over 7 percent as European Union storage levels hit 100 percent and energy security concerns waned with cargo deliveries gathering pace and seasonal temperatures prevailed.
North Asian spot LNG cargo prices fell on the week while European wholesale natural gas values also declined as full storage in the southern European Union nations of Spain and Italy and mild seasonal weather in Northwest Europe eased geopolitical supply concerns.
European and Asian wholesale natural gas and LNG prices edged higher on the week, propelled by security concerns and conflict in the East Mediterranean even as Northwest Europe’s weather was mild for the time of year and gas storage was still at record levels.
European liquefied natural gas cargo and wholesale gas futures prices rebounded while North Asian LNG spot prices also gained as a cloud of uncertainty hung over demand dynamics in the months ahead even as European Union gas storage was almost full.