LNG

North Sea Brent oil prices, seen as underpinning long-term LNG contracts, hit $70.16 per barrel on the London-based InterContinental Exchange (ICE) futures platform, as US crude oil also closed at its highest since December 2014 amid concern in the market about American stockpiles contributing to a global tightening.

Unrest in several cities in Iran over the New Year holiday period along with high seasonal LNG demand in China and Japan is likely to lead to higher January LNG and oil prices. while continuing freezing weather in the US Northeast will give pace to front-month US natural gas futures.