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.
