# Spot LNG eases to US$31.40: Why Petronet’s profit jumps while city gas margins collapse

> Asian spot LNG for December delivery fell to $31.40/MMBtu in the week to November 6, ending four consecutive weekly gains, as more tankers transited the Strait of Hormuz and concerns about escalation eased. Prices remained near a four-year high; the article also reports Petronet profit rose 53% while city gas distributors’ margins narrowed, with the IEA warning of a tight winter market.

- Date: 2026-11-07 · published 2026-11-07T18:07:44.726Z
- Category: geopolitics · region Asia · magnitude medium
- Page: https://feedsoft.ai/events/86248-spot-lng-eases-to-us-31-40-why-petronet-s-profit-jumps-while-city-gas-margins
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

More available Hormuz transit and subdued Asian demand eased spot prices, but limited European storage and competition for cargoes could keep winter LNG supply tight and prices elevated. Lower LNG costs may relieve pressure on Indian gas distributors, though the high absolute price still squeezes margins.

## Read by commodity

- NATGAS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
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| NATGAS | 2024-10-28 | [Prompt Month Natural Gas Futures Sink 10% as Geopolitical Risks ‘Evaporate’ — MidDay Market Snapshot](https://feedsoft.ai/events/11712-prompt-month-natural-gas-futures-sink-10-as-geopolitical-risks-evaporate-midday.md) | -12.5% | +23.5% |
| NATGAS | 2026-03-10 | [Oil and gas prices fall after Trump says war is 'very complete' - BBC News](https://feedsoft.ai/events/9387-oil-and-gas-prices-fall-after-trump-says-war-is-very-complete-bbc-news.md) | -5.0% | -7.7% |
| NATGAS | 2022-05-09 | [European Gas Drops as Russia Tries to Calm Clients Over Payments - Bloomberg](https://feedsoft.ai/events/12155-european-gas-drops-as-russia-tries-to-calm-clients-over-payments-bloomberg.md) | -6.0% | +12.3% |
| NATGAS | 2022-05-10 | [Gas prices drop as Russia says sanctions will not affect gas payments from Europe](https://feedsoft.ai/events/12160-gas-prices-drop-as-russia-says-sanctions-will-not-affect-gas-payments-from.md) | +6.5% | +23.4% |

## Sources

- indoen.com: https://www.indoen.com/news/spot-lng-eases-to-us3140-why-petronets-profit-jumps-while-city-gas-margins-collapse

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