BMI, a unit of Fitch Solutions, raised its 2026 annual Asia JKM LNG benchmark price forecast to $15.5 per million British thermal units from $12.5. According to Sina Finance, BMI analysts said the 2027 annual price forecast was also lifted to $10 per million British thermal units from $8 because of spillover effects from the Hormuz Strait blockade.
BMI said near-term spot market supply recovery is likely to lag as shipping returns to normal and logistics bottlenecks ease. It also said the attack on Ras Laffan port and damage to regional infrastructure will temporarily affect QatarEnergy's export capacity.
BMI added that Europe needs to rebuild inventories before winter, which will increase demand in the region and may divert LNG cargoes that would otherwise go to Asia, putting upward pressure on JKM prices.