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Tokyo Gas CEO Shinichi Sasayama said spot LNG prices could rise further this winter depending on weather, inventory drawdowns and geopolitical developments, particularly the Iran situation. He also noted the EU’s planned phase-in of a Russian gas import ban, with the LNG ban due to begin on January 1, 2027.
Colder weather, inventory depletion and disrupted or redirected LNG flows could intensify competition for spot cargoes and push gas prices higher. This could also lift feed and fertilizer costs indirectly through higher energy prices.
spglobal.comTakeo KumagaiNov 5, 2026After 136 past bullish geopolitics events, Natural Gas moved a median +2.7% over 5 sessions (63% higher; middle half -1.8% to +8.8%), and +4.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
