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Asian LNG prices ease as supply levels remain healthy

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LNG Industry,

According to the latest Reuters report, recent Asian spot LNG prices have dipped slightly as healthy levels of supply have countered pressure from the currently bullish oil market.

Asian LNG spot prices for November deliveries are now resting at US$11 per million Btu, having dropped by 10 cents.

Meanwhile the crude oil market has seen benchmark Brent futures surge by 20% since mid-August; partly due to consumers getting ahead of US sanctions against Iranian oil exports which kick in on 4 November.

Industry sources have identified that the normal strong levels of pre-winter LNG demand are being experienced, however, for the moment at least, supply is equal to it. As a result, prices surges have been minimised or at least postponed.

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