Despite sweltering heat waves and a slight lift in European prices, LNG market activity is expected to remain light as buyers and U.S. producers hone in on the future supply and demand scenario.

After a brief climb to almost $11/MMbtu last week, the Dutch Title Transfer Facility (TTF) dropped to $8.705/MMBtu at the end of the week. At close Monday, the prompt TTF moved into the low $9/MMBtu range.

Analysts with trading firm Energi Danmark wrote Europe’s gas market was in a pattern of “downward correction” as traders weighed the end of scorching temperatures.

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“Milder weather forecasts for Southern Europe are bearish for the market as it...