Loading…
Spot LNG prices in Asia reached $5.50 per mmBtu for November delivery in the week ended October 9, the highest of 2020 and a sixth straight weekly gain. Japan's weather agency put the odds of a La Nina winter at 90%, which is expected to bring colder weather to North Asia.
December cargoes were priced at $5.70 per mmBtu.
Expected colder winter demand in North Asia supports LNG import pull and higher gas prices, which can raise energy costs for feed mills in the region.
financialpost.comReutersOct 12, 2020After 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.
