Asian spot prices for liquefied natural gas (LNG) rose to a three-week high this week ahead of winter demand, while tanker rates nearly doubled on limited availability of vessels.
Spot prices for November-delivery to Northeast Asia LNG-AS are estimated to be about $5.80 per million British thermal units (mmBtu), up by 25 cents from last week, said several sources who are market participants. Prices for December delivery are estimated to be about $6.45 per mmBtu, they added.
Higher oil prices and shipping rates, which have nearly doubled in a week could boost spot LNG prices further, sources added. Read More
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