Oil prices rise as US LNG exports also increase while domestic demand and Mexican pipeline flows drop
Crude oil prices rose by around 2.5 percent and North Sea Brent moved towards the $42 per barrel level while an increase in weekly US liquefied natural gas exports was accompanied by drops in US domestic natural gas consumption and pipeline exports to Mexico.
Oil prices edge higher on expectations of output cuts while LNG still weighed down by excess supply
Oil prices increased more than 3 percent on expectations the leading crude-producing nations would agree to cut output as the coronavirus continues to depress demand while natural gas and LNG prices remained flat, weighed down by excess supplies.
Strong Brent crude prices boost long-term LNG contract values while spot market hits lows
While North Sea Brent crude prices rose to their highest level since September 2019, global LNG and natural gas prices were at record low levels for the Northern Hemisphere winter season because of the glut of supplies and spot charter shipping rates were also well down.
Flex LNG signs long-term charter for newbuild from 2020 with commodities firm Gunvor
Flex LNG, the growing LNG shipping company with six vessels operating and seven others on order and whose largest shareholder is a company controlled by Norwegian magnate John Fredriksen, has entered into a time charter with a subsidiary of commodities firm Gunvor.
LNG spot cargo averages decline on week by around 6 percent on sluggish Asia demand
Singapore LNG spot forward cargo prices declined by around 6 percent in the past week as demand stalled in Asia amid some high December quotes for shipments to China and South Korea.
