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Asia Pacific Spotlight – Global Price Update

Despite volatility on the back of unrest in the Persian Gulf and attacks on Saudi Arabian oil facilities, oil prices have remained relatively stable since June. Brent has generally remained within a band of $58 to $67 per barrel and WTI between $50 to $60 per barrel. Global market expectations of slowing economic growth and Saudi Arabia’s faster than supply agreement was extended in July and now ends in March 2020.

The Brent-WTI spread narrowed to less than $4 per barrel in August after US production and export growth from increased Permian pipeline capacity but has recently moved back out to over $5 per barrel.

Source: ERCE Energy Review

Spot LNG prices in Asia have reduced by over half since late 2018. Demand from traditional North Asian customers has been stable due to mild weather whilst additional LNG export terminals have come online this year in the USA, Australia and Russia. Higher supply without commensurate demand increases has driven down prices in most markets. European gas prices have also plummeted to the lowest prices in a decade as both pipeline and LNG supplies increased without an increase in demand. Henry Hub dipped from June to August with mild weather decreasing gas-fired power in North America. A concern on inventories leading up to winter drove the price increase in September.

Source: ERCE Energy Review

Our Clients have access to our latest research on current oil and gas prices and analytics. Examples of this work are in the charts shown below and in our Energy Price Review. To learn more and keep up with the latest trends download the Energy Price Review today ( or contact our London, Singapore or Australia offices.

Source: ERCE Website