European gas prices decline on the week and on the year as differential with North Asian LNG narrows
The European Union benchmark Dutch Title Transfer Facility price declined in the past week and was also lower than on the same day in 2021 as was the spot LNG cargo price for North Asian LNG as net withdrawals from EU gas storage increased amid colder weather and cargo demand from China, Japan and South Korea was steady.
European and Asian LNG prices slip to near last year’s values amid warm weather and economic uncertainty
European natural gas market prices and Asian spot LNG cargo values slipped to near last year’s levels as hotter weather temporarily dispelled gas supply concerns and available shipping remained short for the Northern Hemisphere winter to come.
Oil price plunges in biggest fall in 30 years with term LNG affected but spot already discounted
Oil prices plunged over the weekend with their biggest fall in almost 30 years as the world’s largest exporter Saudi Arabia decided to slash prices and North Sea Brent crude hit $33.56 a barrel, a more than 32 percent drop since Friday when it was at $49.32 per barrel.
