Natural gas prices rose sharply in Asia and Europe last week amid tightening LNG supplies, colder weather forecasts and geopolitical tensions in the Middle East. JKM and TTF climbed on winter supply concerns, while Henry Hub declined as mild U.S. weather weakened heating demand expectations.
Asia – JKM
The Northeast Asian assessed spot LNG price JKM for last week (12 – 16 October) rose to high-USD 29s/MBtu on 16 October (December delivery) from low-USD 26s/MBtu the previous weekend (9 October, November delivery).
At the beginning of the week, JKM rose on growing concerns over a tightening supply-demand balance in Europe ahead of winter and rising European gas prices, as well as supply risks related to geopolitical tensions in the Middle East and increased buying demand from Northeast Asian buyers, reaching low-USD 29s/MBtu on 13 October.
From 14 to 15 October, JKM edged down within the low-USD 29s/MBtu range as spot demand from Japan remained weak and winter procurement by China and South Korea slowed, although demand from Southeast Asia and other regions provided support to prices.
On 16 October, when the assessed delivery month rolled over to December, JKM rose to high-USD 29s/MBtu, above the previous day’s level, amid heightened geopolitical tensions and active spot procurement by buyers including South Korea and Thailand.
METI announced on 14 October that Japan’s LNG inventories for power generation as of 11 October stood at 2.64 million tonnes, up 0.07 million tonnes from the previous week.
Europe – TTF
The European gas price TTF (November delivery) for last week (12 – 16 October) rose to USD 28.9/MBtu on 16 October from USD 26.7/MBtu the previous weekend (9 October).
At the beginning of the week, TTF rose due to tight spot LNG supply and reduced gas supplies from Norwegian gas supply facilities, reaching USD 28.6/MBtu on 13 October.
On 14 October, it remained in the high-USD 28s/MBtu due to supply concerns over the Strait of Hormuz and forecasts of lower temperatures.
TTF then fell to USD 28.4/MBtu on 15 October due to increased gas exports from Ukraine to Central Europe and weak European gas demand, but rebounded to USD 28.9/MBtu on 16 October following supply constraints at Norway’s Troll gas field and forecasts of lower temperatures in Europe.
According to AGSI+, EU-wide underground gas storage was 74.3% on 16 October, up from 73.5% the previous weekend, down 10.9% from the same period last year, and down 16.5% from the five-year average.
United States – Henry Hub
The U.S. gas price HH (November delivery) for last week (12 – 16 October) fell to USD 3.1/MBtu on 16 October from USD 3.2/MBtu the previous weekend (9 October).
At the beginning of the week, HH fell to USD 3.2/MBtu on 12 October as gas production in the Gulf of Mexico resumed following Hurricane Isaias, but rose to USD 3.3/MBtu on 13 October due to a recovery in feedgas demand for LNG exports and expectations of increased demand on forecasts of lower temperatures in the northern U.S.
Thereafter, upward momentum was limited as mild weather suppressed heating demand.
Although HH edged higher on 15 October as the injection into U.S. gas storage came in below expectations, it fell to USD 3.1/MBtu on 16 October as forecasts of above-normal temperatures across a wide area of the U.S. weakened the demand outlook.
The EIA Weekly Natural Gas Storage Report released on 15 October showed U.S. natural gas inventories as of 9 October at 3,567 Bcf, up 67 Bcf from the previous week, down 3.9% from the same period last year, and 1.3% above the five-year average.
Source: JOGMEC
Updated: 19 October 2026
The post Natural gas prices weekly update – JKM, TTF and Henry Hub (19 October 2026) first appeared on Global LNG Hub.