Freezing temperatures push Asian gas prices to new records

Topics Gas prices | winter | oil & gas

Freezing temperatures across Asia and Europe are sending the prices of liquefied natural gas (LNG) to new record highs as buyers grapple with depleting inventory and a shortage of tankers to ship the cargoes in. But with the forecast indicating the return of milder weather, prices may peak soon as demand for heating fuel diminishes, traders and analysts said.

S&P Global Platts' Japan-Korea-Marker (JKM), which is used as a reference point for Asian spot LNG prices, rose to $28.221 per million British thermal units (mmBtu) on Monday.

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