Commodity Market Report

LNG short-term outlook: July 2023

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Amid weak demand and resumed supply from Norway, price in Europe plunged to below $ 10 / mn Btu in mid-July before rallying back to near $ 10 / mm Btu. However, market sentiment for this winter is bearish as inventories in Europe and key NW Europe remain high. TTF prices might exhibit a large discount to Asian prices when Europe touches maximum inventory levels earlier than seasonal norms and push Atlantic cargos to the Pacific. Therefore, price softening is expected going into the winter.

Table of contents

  • Downside risks to prices on the horizon, despite conflicting market signals

Tables and charts

This report includes 1 images and tables including:

  • Updated: 26 July 2023

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    Short Term Outlook (Data).xlsx

    XLSX 281.99 KB

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    LNG Short Term Outlook.pdf

    PDF 2.01 MB