Macquarie: The price of liquefied natural gas in 2026 will be weaker than its previous expectations.

Macquarie has revised down its outlook for liquefied natural gas prices as increased output capacity is making the global gas market more relaxed. Macquarie currently expects spot LNG prices for the first quarter of 2026 to be $10.50 per million British thermal units, lower than the previous forecast of $12.00 per million British thermal units. The bank has also lowered its spot LNG price forecast for the following quarters of next year by 8.5% to 13%. Macquarie stated: "Given our bearish outlook on oil and liquefied natural gas, we believe underweighting oil and gas stocks is reasonable."