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“Spark30S (Atlantic) freight rates rose for the first time in almost six weeks, increasing by $4,000 to $33,000 per day this week,” Spark’s data lead Qasim Afghan told LNG Prime on Friday.
Meanwhile, Spark25S (Pacific) rates stayed relatively steady at $20,750 per day, he said.
European prices slightly up
In Europe, the SparkNWE DES LNG rose compared to last week.
“The SparkNWE DES LNG front month price for July increased marginally this week by $0.065 to $11.815/MMBtu, whilst the discount to the TTF remains largely flat at $0.465/MMBtu,” Afghan said.
“The US front-month arb to NE-Asia (via the Cape of Good Hope) increased this week, pricing in at -$0.073/MMBtu and now only marginally pointing to Europe. The US front-month arb to NE-Asia via Panama continues to point to Asia for a second week running, assessed at $0.164/MMBtu,” Afghan said.
Data by Gas Infrastructure Europe (GIE) shows that volumes in gas storages in the EU continued to rise and were 52.44 percent full on June 11.
Gas storages were 49.88 percent full on June 6, and 72.32 percent full on June 11, 2024.
JKM
In Asia, JKM, the price for LNG cargoes delivered to Northeast Asia in July 2025 settled at $12.460/MMBtu on Thursday.
Last week, JKM for July settled at 12.445/MMBtu on Friday, June 6.
Front-month JKM dropped to 12.440/MMBtu on Monday and to 12.410/MMBtu on Tuesday. It rose to 12.445/MMBtu on Wednesday.
State-run Japan Organization for Metals and Energy Security (Jogmec) said in a report earlier this week that JKM for last week “rose to high-$12s/MMBtu on June 6 from low-$12s/MMBtu the previous weekend.”
“Alhough demand in Asia is currently sluggish, JKM rose for a fifth consecutive day on the back of expected increased summer demand, reduced supply due to buying spot cargoes by Egypt, and strong buying interest from trading houses and portfolio players,” Jogmec said.
Several reports, including Reuters and Bloomberg, said this week that Egypt bought up to 160 LNG cargoes for delivery this year and next year.
The reports claim that some of the sellers include Shell, Aramco, and Vitol.
Israel-Iran
Oil prices jumped on Friday after Israel attacked Iran.
Brent crude was trading on Friday above $75 per barrel.