European and Asian LNG prices are mixed as US Henry Hub stays under $2 and EU storage re-starts
European natural gas prices and LNG values were mixed as the winter season ended and there was a mixed bag of prices for the Northern Hemisphere summer while European Union gas storage was building already apart from in France while the front-month Asian spot price declined even amid more China optimism.
European LNG prices maintain higher momentum as Asian spot prices trail because of flat China demand
European liquefied natural gas prices increased on the week to stay above the Japan-Korea Marker price for North Asian spot cargoes as Atlantic and Pacific Basin liftings were steady while the oil market remained robust even amid mixed demand signals from Asia and the West.
Asian LNG and oil deliveries start to recover for China while Europe’s cargo prices fall even as concerns persist
North Asian liquefied natural gas demand was dominated by Japan again as Chinese oil and LNG demand began to recover after lockdowns while European Union gas supply was helped by a decline in prices as summer weather arrived, though the improved picture was partially dulled by renewed Ukraine conflict concerns.
LNG cargo market for Asia and Europe is still buoyant as governments seek to control oil and gas prices
Spot liquefied natural gas prices for North Asia dropped under $30 for June and July as global cargo liftings declined and front-month prices converged with European values at the start of a European Commission-monitored gas injection season and as OECD governments also try to control oil prices.
European and Asian LNG prices jump along with crude as less Russian supplies wanted in Western markets
European and Asian LNG prices increased again and with the Europe-Asia differential widening to $8.65 per million British thermal units, while crude oil also surged on the week on concerns about the impact on global energy supplies of the Ukraine war and much reduced Russian oil and gas volumes for Western markets.
