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Extreme heat across South and Southeast Asia has driven LNG imports to records, with South Asian imports up nearly 20% year on year in May. Asian spot LNG prices have risen by about a third since April to near a six-month high of $12/mmBtu.
Heat-driven cooling demand is expected to keep prices elevated.
Strong Asian LNG demand and higher spot prices tighten global gas supply and raise power and fuel costs for regional processors. Heat-driven demand may also pressure power supplies across the region.
marinelink.comEmily ChowMay 31, 2024After 221 past bullish weather events, Natural Gas moved a median +3.3% over 5 sessions (61% higher; middle half -5.2% to +14.0%), and -0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
