Gas prices to keep surging in the weeks/months ahead?

The energy crisis globally is far from over

A forecast assessment by Argus says that Asian LNG prices are likely to surge to record levels going into winter, with demand within and outside the region looking particularly robust and expected to pick up further in the weeks/months ahead.Invest in yourself. See our forex education hub.

Asian spot LNG prices are poised to surpass the all-time high recorded early this year, as firmer buying activity from within and outside the region shows little sign of abating.

New records are expected to be set in the coming weeks and months, as buying activity from within and outside Asia gathers pace to extend current price gains.

The front half-month ANEA price, the Argus assessment for spot LNG deliveries to northeast Asia, was assessed at $34.685/mn Btu for first-half November deliveries on 1 October, up by $15.80/mn Btu, or 84pc, from $18.885/mn Btu for first-half October deliveries on 1 September and nearly sevenfold the $5.080/mn Btu assessed exactly a year earlier. It is also $5.035/mn Btu shy of the current high at $39.720/mn Btu for first-half February deliveries on 13 January.