- Dutch TTF natural-gas prices rose 5% above €70 per MWh, reaching their highest front-month level in more than three and a half years amid renewed US-Iran hostilities.
- The blocked Strait of Hormuz and Qatar’s extension of force majeure on LNG deliveries through October are reducing supply available to Europe and Asia ahead of winter storage demand.
- China’s August LNG deliveries are estimated at about 5.2 million tons, down 18% from a year earlier, as Middle East war-driven price increases weigh on consumption.
- China and Russia showed no reported progress on a proposed new gas pipeline following their leaders’ meeting, leaving a potential longer-term supply route unresolved.
Quotes
“The renewed hostilities and the still blocked Strait of Hormuz for LNG traffic is tightening global gas markets, where Asia and Europe are competing for a shrinking pool of supply to fill storage ahead of the coming winter.”