The natural gas market has evolved into a complex mix of geopolitics, LNG flows, energy demand from AI, and infrastructure constraints across the US, Europe, and Asia.
Global LNG prices appear relatively tight, while Henry Hub remains weak, highlighting the gap between local oversupply and global infrastructure bottlenecks.
The US domestic market continues to be oversupplied: Henry Hub spot prices are hovering around 2.5-2.8 USD/MMBtu amid mild weather, elevated storage levels, and growing production.
A new structural driver is the rapid growth in electricity demand from AI data centers.
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By Anton Kharitonov
The natural gas market is no longer just a simple “commodity story” - it has evolved into a complex mix of geopolitics, LNG flows, energy demand from AI, and infrastructure constraints across the US, Europe, and Asia. Rising tensions around Iran
