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Rabobank lifts 2026 TTF and JKM natural gas forecasts
Rabobank warns Europe could start winter with storage just above 70% capacity, leaving gas buyers more exposed to spot LNG pricing and supply shocks.
Rabobank has revised higher its forecasts for European TTF natural gas and Asian JKM prices for Q3 and Q4 2026, citing a structurally tight LNG market and larger Qatari export losses tied to renewed Hormuz disruption, according to an FXStreet write-up of Rabobank’s outlook.
The bank still expects a winter premium, and it flags the risk that Europe may enter winter with inventories only just above 70% of capacity, which would increase sensitivity to spot LNG pricing and any additional supply shocks.
FXStreet also notes broader market context on the same day, including the dollar moving lower after US CPI came in below estimates in June, and EUR/USD and GBP/USD trading around key technical levels.
In the commodities related section of the update, the report frames the tighter LNG balance and disruption-linked export losses as key drivers behind the higher gas price projections for late 2026.
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