Commodity Market Report
LNG short-term outlook: March 2024
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
TTF prices have increased almost +20% since our last update. This is largely linked to the strengthening in coal and carbon prices due to additional sanctions on Russian coal production, some disruptions, emerging demand in the Mediterranean and opportunistic buying. As a result, the European coal-to-gas switching range shifted up +$1.5/mmbtu – supporting gains at TTF which still trades at the bottom of the switching range to incentivise gas demand. Asian LNG prices moved upwards with European markers, but also with additional procurement. Their premium to Europe LNG prices remained around $1/mmbtu, supporting longer routes on efficient ships at the margin.
Table of contents
- Commodity prices soared this month, but the market remains well supplied
Tables and charts
This report includes the following images and tables:
- Updated: 28 March 2024
What's included
This report contains:
Other reports you may be interested in
Insight
Global oil supply short-term update - October 2025
OPEC+ begin to unwind next tranche of cuts. We assume only a partial return of volumes due to a weakening outlook for prices.
$1,350
Asset Report
Maricunga - Lithium brine project
A detailed analysis of the Maricunga lithium brine project.
$2,250
Insight
Value-in-use iron ore costs Q3 2025
Q3 2025 iron ore value-in-use adjusted costs are up 2.2% compared to last quarter, and margins remain at 40% in Q3 2025.
$5,000
