Asia LNG Hits Seven-Month Low as Winter Crunch Fears Ease
- Mild weather expected across China, South Korea over next week
- Rapid decline in gas prices will provide relief for consumers
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North Asian liquefied natural gas prices fell to the lowest in nearly seven months as an outlook for milder weather and high inventories reduced the need to buy more fuel for winter.
Spot rates dropped to about $9.80 per million British thermal units on Tuesday, the lowest since mid-June, according to traders. Supply is ample, with exporters from Angola to Papua New Guinea offering to sell shipments this week, they said.