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Asian spot LNG prices at five-month high on firm demand, geopolitical risks
Asian spot liquefied natural gas (LNG) prices rose for the fourth straight week and hit its highest level in five months amid firm demand, tracking European gas market gains amid concerns over possible disruption to Russian gas supply. The average LNG price for July delivery into north-east Asia rose to $12.30 per million British thermal units (mmBtu), its highest level since mid-December and up from $10.90/mmBtu in the previous week, industry sources estimated. "Spot LNG prices remain strong, supported by firm demand, unexpected outages and ongoing geopolitical risks," said Alex Froley, senior LNG analyst at data ... (full story)