Commodities
Singapore Surges as Rotterdam LNG Bunker Price Drops
Rotterdam's liquefied natural gas (LNG) bunker price dropped $119 per metric tonne to $1,488 per metric tonne last week, according to ENGINE. This decline halts a six-week run of consecutive weekly increases.
The drop in Rotterdam prices was largely due to an 11% weekly decrease in the front-month Dutch TTF Natural Gas contract, Europe's benchmark gas price. ANZ Bank senior commodity strategist Daniel Hynes attributed this decline to the fall in crude oil prices.
However, Singapore's LNG bunker price surged $130 per metric tonne over the past week to $1,667 per metric tonne, reversing its previous discount to Rotterdam. Singapore now trades at a $179 per metric tonne premium to Rotterdam.