Natural gas prices moved higher in Asia and Europe last week, while Henry Hub prices in the United States eased by the end of the week. JKM and TTF were supported by supply concerns, Middle East uncertainty and summer demand expectations, while HH softened as cooling demand declined.
The Northeast Asian assessed spot LNG price JKM (July delivery) for last week (1 – 5 June) rose to high-USD 18s/MBtu on 5 June from low-USD 18s/MBtu the previous weekend (29 May).
JKM rose to low-USD 19s/MBtu early in the week amid strikes in Australia, the suspension of U.S.–Iran peace talks in the Middle East, and increased demand due to warm weather.
Subsequently, with supply remaining tight and the market continuing to take a wait-and-see approach toward summer demand procurement, prices moved in the high-USD 18s/MBtu range.
METI announced on 3 June that Japan’s LNG inventories for power generation as of 31 May stood at 1.91 million tonnes, down 0.049 million tons from the previous week.
The European gas price TTF (July delivery) for last week (1 – 5 June) rose to USD 16.5/MBtu on 5 June from USD 15.7/MBtu the previous weekend (29 May).
TTF rose to USD 16.8/MBtu early in the week following reports that Iran announced a suspension of peace talks with the United States.
On 2 June, prices fell to USD 16.3/MBtu against the backdrop of ample supply from the Norwegian continental shelf.
Thereafter, amid continued instability in the Middle East, prices rose to USD 16.6/MBtu on 3 June.
They subsequently traded largely unchanged in the absence of major fundamental shifts, standing at USD 16.5/MBtu on the 5th.
According to AGSI+, the EU-wide underground gas storage was 41.8% on 5 June, up from 39.7% the previous weekend, down 16.9% from the same period last year, and down 25.2% over the five-year average.
The U.S. gas price HH (July delivery) for last week (1 – 5 June) fell to USD 3.2/MBtu on 29 May from USD 3.3/MBtu the previous weekend (29 May).
HH fell to USD 3.2/MBtu at the beginning of the week, given limited expectations for temperature increases in the U.S.
Prices turned higher on the back of increased cooling demand due to rising temperatures and a smaller-than-expected increase in EIA gas storage, reaching USD 3.3/MBtu on 4 June.
They then fell to USD 3.2/MBtu on 5 June as cooling demand declined amid seasonally normal temperatures.
The EIA Weekly Natural Gas Storage Report released on 4 June showed U.S. natural gas inventories as of 29 May at 2,578 Bcf, up 95 Bcf from the previous week, down 0.1% from the same period last year, and 5.7% above the five-year average.
Source: JOGMEC
Updated: 08 June 2026
