LNG cargo prices maintain their upward trend and defy market gravity of high gas storage and warmer weather
Global liquefied natural gas cargo prices from North Asia to the European Union continued their upward trend for a fifth week, defying the record storage levels at the end of the winter season amid market concerns about possible energy policy or geopolitical threats that could undermine sentiment in the months ahead.
Global LNG prices plunge as oil drops $10 a barrel to raise demand doubts and ship spot charter rates tumble
European and Asian liquefied natural gas prices dropped with the February 2024 Japan-Korea Marker for North Asian spot cargoes being the highest in the complex as vessel charter rates plunged in a week when oil also lost $10 a barrel and European Union natural gas storage was full and temperatures were mild for the time of year.
Demand for LNG remains high with cargoes pointed at Asia and South America and spot values over $13.00
Demand for liquefied natural gas remained firm worldwide along with seasonally high Asian spot prices over $13.00 per million British thermal units for September and with deliveries to China, Japan and South America still being preferred to European destinations.
