Editor’s Note: This content is provided courtesy of Independent Commodity Intelligence Services (ICIS). Visit natgasintel.com/icis for more information.

LONDON (ICIS) — European gas supply uncertainty has continued to push the TTF benchmark to new highs, with the ICIS TTF August ’22 contract surging to the fourth highest level ever on 6 July.

Asian spot LNG prices also climbed higher, resulting in several Asian tenders being unawarded or canceled this week due to high price levels.

As global demand for LNG continues to rise and gas supply uncertainty grows amid geopolitical concerns, prices could continue to rise to fresh highs, potentially leading to demand destruction, according to some sources.

China signed two long-term deals to take US LNG. Europe progressed with...