Natural gas: the published research splits sharply by region, with no clean global consensus.
On US gas, one camp of analysts argues Henry Hub is a buy, pointing to strong storage injections and a technical support band around $3.05–$3.15, with a target above $4. A separate strand of recent research takes a more bearish view on European gas, arguing the reopening of the Strait of Hormuz drains some of the geopolitical risk premium out of prices — though they caveat that normalization may only be partial if structural supply-demand strains linger.
Researchers also flag Asian LNG as the structurally tighter market: Korean, Japanese, and Chinese buyers keep outbidding Europe for incremental cargoes, a dynamic some argue could sustain upward pressure into next winter's refill season. A related thread sees Australian LNG well-positioned through 2026 on elevated commodity prices, with an oil shock as the main downside risk.
Net read from the published views: modestly constructive on US gas, softer on Europe, firmer on Asia.