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Morgan Stanley forecasts LNG prices hit all-time high
Morgan Stanley Bank expects global liquefied natural gas (LNG) prices to reach record levels not seen in over three years, driven by heatwaves in Asia and accelerating restocking needs in Europe. Prices in Asia are forecasted to reach $25 per million British thermal units (MMBtu) during the third and fourth quarters, with prices continuing to rise even if a resolution is reached to the current geopolitical conflict that has led to the closure of the Strait of Hormuz and the cutoff of one-fifth of global gas supplies. This situation coincides with increased consumption in key markets such as India and China, along with reduced opportunities to build inventories ahead of the winter season. European markets, meanwhile, have been compensating by operating international refining facilities and expanding production capacities in North America.
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