On June 18th, following Qatar's commencement of preparations for resuming liquefied natural gas (LNG) shipments, CPT Markets indicated that expectations for a supply return in the global gas market have significantly intensified. This development is seen as helping to alleviate previous concerns regarding regional supply tightness.

From a supply-demand rhythm perspective, CPT Markets believes that once major exporters restore their shipping capabilities, buyers in Asia and Europe will gain greater flexibility in their procurement arrangements. Consequently, price movements are more likely to shift from being driven by sentiment to a reassessment based on fundamentals.

If the subsequent recovery of transportation and loading operations outpaces expectations, the risk premium in the natural gas market may continue to decline. However, before inventories are fully replenished, the market may still retain a degree of sensitivity and volatility.

At the current juncture, CPT Markets analysis suggests that key factors to monitor going forward are the pace of recovery, spot market inquiries, and changes in regional stockpiles. The simultaneous improvement of these three elements will influence whether gas prices can transition into a more stable range.