# GLOBAL LNG-Asia spot prices hit 7-month high on rising demand, Europe supply worries

> Asian spot LNG prices rose for a third week to a seven-month high of $15/mmBtu for November delivery into north-east Asia. The gain reflected stronger Asian demand, European supply worries and Russian fuel export curbs.

- Date: 2023-09-29 · published 2023-09-29T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/34284-global-lng-asia-spot-prices-hit-7-month-high-on-rising-demand-europe-supply
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Higher LNG prices raise energy costs across Asia and Europe, which can support fertilizer and processing costs and modestly lift demand for competing energy and feed substitutes.

## Read by commodity

- DIESEL: bullish ▲
- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2018-08-29 | [Asian LNG prices hit highest in over two months high on tight supply \| Daily FT](https://feedsoft.ai/events/63711-asian-lng-prices-hit-highest-in-over-two-months-high-on-tight-supply-daily-ft.md) | -0.7% | +5.0% |
| NATGAS | 2024-11-27 | [Goldman warns of likely Asia LNG price rise on European supply crunch \| Reuters](https://feedsoft.ai/events/27592-goldman-warns-of-likely-asia-lng-price-rise-on-european-supply-crunch-reuters.md) | -12.6% | +0.2% |
| NATGAS | 2020-12-28 | [Supply Crunch, Brexit Deal Push Global Gas Prices Higher -- LNG Recap](https://feedsoft.ai/events/49820-supply-crunch-brexit-deal-push-global-gas-prices-higher-lng-recap.md) | -0.3% | +3.7% |
| NATGAS | 2021-10-08 | [Asia LNG price soars on China power crunch, European demand](https://feedsoft.ai/events/44764-asia-lng-price-soars-on-china-power-crunch-european-demand.md) | +1.9% | +0.5% |
| NATGAS | 2021-10-05 | [Gas price surges to a record high in Europe on supply concerns](https://feedsoft.ai/events/44766-gas-price-surges-to-a-record-high-in-europe-on-supply-concerns.md) | -6.6% | -10.0% |
| DIESEL | 2021-11-09 | [Spot diesel prices at seven-year high, with California retail diesel at 2008 level \| S&P Global](https://feedsoft.ai/events/44224-spot-diesel-prices-at-seven-year-high-with-california-retail-diesel-at-2008.md) | -2.8% | -9.9% |
| DIESEL | 2021-02-01 | [Analysis: Global fuel prices jump as Asia, U.S. to rev up demand in 2Q](https://feedsoft.ai/events/48814-analysis-global-fuel-prices-jump-as-asia-u-s-to-rev-up-demand-in-2q.md) | +7.2% | +13.8% |
| DIESEL | 2024-12-12 | [Global diesel prices to rely on refinery closures for support in 2025](https://feedsoft.ai/events/27158-global-diesel-prices-to-rely-on-refinery-closures-for-support-in-2025.md) | +1.1% | +12.9% |

## Sources

- finance.yahoo.com: https://finance.yahoo.com/news/global-lng-asia-spot-prices-110906125.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.