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.
Liquefied natural gas prices in Asia and Europe stay high into second quarter backed by $90 a barrel oil
North Asian spot cargo prices declined on the week while remaining at seasonal highs through to the second quarter as cargo liftings fell and European values stayed above the Asia price with energy markets buoyed by crude oil over $90 a barrel.
Asian and European cargo prices spike for post-winter season as liftings rise and oil surge underpins contract LNG
Prices spiked for North Asian spot cargoes in the post-winter windows to $28 per million British thermal units, underpinned by increasing contract cargo prices linked to oil and with European benchmarks staying at seasonal record levels and fuelling global concerns over gas shortages.
