TTF rallies on supply concerns, but Asian LNG market remains balanced. Henry Hub hits the $3/MMBtu mark.

European TTF front-month price outlook: Steady

Kpler Insight anticipates a steady outlook for TTF front-month contracts over the coming week. Price direction is likely to be influenced by the timely return of Norwegian gas assets to service, improved renewable power generation, and rising temperatures next week. However, support could still come from uncertainties surrounding Russian pipeline flows and possible extension of LNG supply outages.

Asian LNG front-month price outlook: Steady

Asian LNG front-month prices are expected to be steady next week as the market remains balanced, despite a recent unplanned outage at Australia’s Wheatstone LNG which could see some Japanese offtakers seeking replacement cargoes. Higher temperature forecast in Northeast Asia next week are also expected to be offset by cooler weather in South and Southeast Asia with the monsoon season approaching.

US Henry Hub front-month price outlook: Bearish

Henry Hub front-month futures prices are expected to decline in the upcoming week. Producers have incentives to continue to ramp up supply. Temperature forecasts are a bit uncertain. LNG feedgas demand is expected to remain steady. Storage balances continue to tighten.