According to the latest Reuters report, LNG spot prices for Asia have risen to a new eight-month high, as demand for pre-winter cargoes emerges.
Spot prices for cargo deliveries in December are now estimated to be approximately US$6.80 per million Btu – a 35 cent increase from last week.
Prices for November cargoes also saw a 10 cent rise and are now reported to be approximately US$5.90 per million Btu, according to market participants.
According to Reuters industry sources, pre-winter demand has not been the only factor boosting prices as of late. Indeed, maintenance in Australia and a reported issue at a US LNG facility have made a significant contribution. Sources have also pointed to high freight rates as having contributed to recent cargo prices.