According to data released today by Spark Commodities, European LNG prices rose by 3% compared to the lowest levels in the past 20 months last week.
According to Montel-Forex, the monthly futures price for ship-delivered LNG (DES) was $12.60/MMbtu ($40.58/MWh) yesterday. This figure is $0.38 higher than the low level of the past 20 months, which was $12.22/MMbtu.
Market participants say that despite a 1.7% weekly increase in TTF reference monthly gas prices in the seven days prior to Thursday, downward pressure continues due to strong supply and storage, as well as reduced demand due to mild weather.
Compared to the latest European LNG price assessment by ACER, the LNG price for delivery in the first half of April was 41.62 EUR/MWh ($12.92/MMBtu).
In the Asian market, May-delivery JKM LNG prices closed at $13.55/MMbtu on Thursday.
