Insight
LNG short-term webinar: June 2026
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Report summary
Global gas prices fell in mid-June after the ceasefire was extended by 60 days, with measures to re-open the Strait of Hormuz. This stripped $3/mmbtu from TTF, erasing some of the risk premium linked to the conflict. However, logistical uncertainties (mine clearing, congestions, shipping lanes, cross-commodity transits etc.) persist, alongside a fragile ceasefire. Spot tendering activity remained robust, led by South and Southeast Asian buyers, as weather-driven and industrial demand began to recover. Normalisation of Hormuz transits will be a key driver of Asian LNG import recovery in the coming months, while switching back to gas is expected to be gradual. Oil–gas competition could intensify in markets such as India, especially if oil prices ease faster than gas.
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