Global Commodities: Gas Finds a Tighter Balance

Metals and oil dominated the market narrative in the last few weeks. Natural gas, however, has also been dynamic, having gone through its own period of volatility at the end of January due to cold sprees in the US and Europe. In this episode, we discuss the European gas market, our updated price forecast and the range of new infrastructure projects that are coming online.   Speakers:  Natasha Kaneva, Head of Global Commodities Research Otar Dgebuadze, Global Natural Gas Research   This podcast was recorded on February 27, 2026.   This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5218621-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.