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LNG Market Report: Keep on Truck(lng)

2 min read

ICE TTF futures have held steady through mid-October, despite a brief decline from softened perceived geopolitical risk, with concerns over supply tightening as the Gazprom-Ukraine transit deal ends. Meanwhile, the Dec’24 Basis dropped from $0.70/MMBtu to $0.50/MMBtu before stabilising, with a cautious short-term outlook amid potential supply risks. Henry Hub futures have stabilised between $2.80 and $3/MMBtu, though bearish sentiment continues due to high inventories and lower-than-expected heating demand. EIA data shows US storage at 3,785 bcf as of mid-October, up 2.9% year-on-year, and warmer winter forecasts alongside increased production could pressure prices further.

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Our team of skilled analysts, by utilising the depth and breadth of Onyx's proprietary data, position ourselves at the cutting edge of market analysis. This unique vantage point grants us an unparalleled perspective in the market, enabling us to identify emerging trends and lucrative opportunities.