Wuhan, China – Oil and gas traders bid up Asia LNG prices today to weekly highs resulting in a massive spike in LNG futures. For context, Asia LNG prices have hit record lows as new supply is projected to come to the market from investments in greenfield projects across the world. “The price spike was out of nowhere,” Justin Jerke a Chicago LNG trader commented. “I had no idea where it came from and I rushed to exit some short-term contracts.” Experts speculate the price spike was caused by the increase in demand from China burning dead bodies infected by the coronavirus. The coronavirus has infected 64,456 lives with 1,384 confirmed deaths. However, conspiracy theorists believe the number of infected cases could be at least 650,000 with over 50,000 deaths. “China has been know to lie about its economic numbers in the past,” Joana Brucewald commented. “I wouldn’t be surprised if the number of infected people in China is over one million.” Traders started bidding up LNG prices from the potential demand of LNG China will use when it burns the corpses of the infected. “If the entire population of China is wiped out there is going to be a huge need of LNG to burn those corpses,” LNG expert Daniel Bush stated. “There are 1.3 billion people in China. 1.3 billion dead bodies equals a hell of a lot of LNG demand.”
Source of Featured Image: China is cremating bodies
