The Rising Influence of Rising Affluence

[DewDiligence]

(RDS/CVX/etc)—LNG prices in Asia at all-time low:

https://www.wsj.com/articles/shale-gas-swamps-asia-pushing-lng-prices-to-record-lows-11580994013

The main price gauge for liquefied natural gas, or LNG, in Asia fell to $3 per million British thermal units Thursday, down sharply from more than $20 six years ago as U.S. deliveries have swamped markets around the world.

As recently as Jan. 15, the Asian benchmark, called the Japan Korea Marker, was comfortably above $5. Around then, fear that the coronavirus outbreak would stall economic activity in the world’s second-largest economy added to other factors already pressuring prices. Those included a mild winter in Asia, ample local stockpiles and increasing deliveries from U.S. gas-liquefaction facilities.