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S&P Global analyst Megan Jenkins said Asian LNG spot prices could average as high as $30/MMBtu in January and February if supply through the Strait of Hormuz remains tight after the new year. Prices could ease to around $20/MMBtu from March to May, or around $10/MMBtu in the low-demand season if Qatari supply recovers in January; the forecast average for October–December is about $26/MMBtu.
Persistent disruption through Hormuz could restrict LNG availability and lift Asian spot prices, while restored Qatari supply and seasonal demand declines would ease the market. Higher LNG costs can feed through to broader energy and agricultural input expenses.
gmteight.comNov 11, 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.
