Article by Adam Becis, Principal Engineer
Posted by Nisha Gor on Fri, 09/21/2018 - 09:51

As we all know, the energy sector is a constantly evolving industry and prices are ever-changing. To keep you in the picture, we regularly review oil and gas prices and watch the global macro indicators that influence these trends. We frequently update our in-house oil price decks and review oil price assumptions presented by other petroleum consultants and analysts. These are reported in our quarterly oil price review which is available for download from our website.

Prices have recently trended upwards as U.S. sanctions on Iran have reduced global oil supply. Despite encouragement by the U.S. to other substantial producers to increase supply, the global supply balance has tightened. This followed a period of slight price decline as OPEC increased supply in July and numerous tariffs introduced by the USA and China raised global oil demand concerns. The Brent-WTI spread narrowed in late June as non-USA crude supply increased on the back of the higher OPEC output, aided by a major outage at Syncrude Canada’s 360,000 barrels of oil per day facility in Alberta. However, the spread has once again widened, reaching over $9 per barrel in September.

From ERCE quarterley Energy Review

Asian spot LNG prices have stayed high due to surprisingly strong demand during the northern hemisphere summer. In particular, Chinese demand backed by recent stronger economic growth and tighter environmental requirements has supported the Asian LNG market. UK NBP and Henry Hub gas prices have increased slightly consistent with increased demand during the northern hemisphere summer months.


  1. Recent two months of Japan Spot LNG price are World Bank estimate.
  2. Data for Europe Import price for last 3 months is unavailable.

Our Clients have access to our research on current oil and gas prices and analytics. Examples of this work are in the charts shown below and in our downloadable oil price review pdf document. We are always aware that each client needs bespoke services when it comes to commercial activities and decisions.

To access interactive versions of these charts visit our O&G Analytics page.