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Asian spot LNG for January delivery rose 13% to an average of $35/MMBtu in the week, driven by higher European gas prices ahead of a cold spell. Traders expected ample Asian inventories to limit further gains and noted a slightly bearish tone in tender awards.
Higher Asian LNG prices raise the cost of gas-fired power and fertilizer production in Asia, though ample inventories suggest the rise may be limited.
brecorder.comReutersDec 2, 2022Not enough comparable past events yet for a historical read.
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.
