Commodity Market Report
LNG short-term outlook: August 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 rallied in the first half of August. Shelling near the Sudzha interconnection point and the ongoing conflict in the Middle East raised concerns over supply disruptions. Despite this, gas inventories have surpassed the EU’s 90% target, largely ahead of the November deadline. Northwest Europe LNG DES prices tracked TTF prices, keeping a small discount as European terminal utilisation remained low in August. Asian LNG DES prices have also escalated with European prices in August, maintaining a premium to Europe but are now touching oil-parity levels.
Table of contents
- Supply disruption risks push prices higher, despite comfortable stock levels
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