*Asian LNG prices are at levels last seen in 2016 amid bumper volumes from Australia and the US and the demand off-season. Key importers Japan, China and South Korea bought record volumes pre-winter (MEES, 1 February). They then saw unseasonably mild weather, so stocks exited winter at bumper levels.

*Japan paid $6.40/mn BTU for spot cargoes contracted in March – roughly equivalent to April arrivals – an 18-month low. Latest Reuters market reports suggest May-arrival trade was...