BMI, a subsidiary of Fitch Solutions, said it has raised the 2026 Asian JKM LNG benchmark annual average price forecast from 12.5 US dollars/million British thermal units to 15.5 US dollars/million British thermal units due to the longer than expected interruption in the Strait of Hormuz. BMI analysts said in the research report that due to the spillover effects of the blockade of the Strait of Hormuz, the 2027 annual price forecast was raised from 8 US dollars/million British thermal units to 10 US dollars/million British thermal units. In the short term, BMI expects that as shipping returns to normal and logistics bottlenecks ease, there will be a delay in the recovery of supply in the spot market. The attack on the port of Ras Laffan and damage to regional infrastructure will have a temporary impact on the export capacity of Qatar Energy. Europe's need to rebuild inventories before winter sets in, which will drive up demand in the region and may divert liquefied natural gas shipments originally destined for Asia, thereby putting upward pressure on JKM prices.

BMI, a subsidiary of Fitch Solutions, said it has raised the 2026 Asian JKM LNG benchmark annual average price forecast from 12.5 US dollars/million British thermal units to 15.5 US dollars/million British thermal units due to the longer than expected interruption in the Strait of Hormuz. BMI analysts said in the research report that due to the spillover effects of the blockade of the Strait of Hormuz, the 2027 annual price forecast was raised from 8 US dollars/million British thermal units to 10 US dollars/million British thermal units. In the short term, BMI expects that as shipping returns to normal and logistics bottlenecks ease, there will be a delay in the recovery of supply in the spot market. The attack on the port of Ras Laffan and damage to regional infrastructure will have a temporary impact on the export capacity of Qatar Energy. Europe's need to rebuild inventories before winter sets in, which will drive up demand in the region and may divert liquefied natural gas shipments originally destined for Asia, thereby putting upward pressure on JKM prices.