MNI Gas Weekly: Weaker Fundamentals Weigh Against Geopol Risk

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Executive Summary: 

• European Gas Benchmarks drifted lower with warm weather outweighing geopolitical risks.
• Asia’s LNG market is broadly steady although is set for pressure into the shoulder season.
• In the Middle East & Africa, US-Iran tensions are sparking concerns around LNG flows through the Straits of Hormuz.
• Henry Hub has ticked down amid expectations of milder weather.
• In the Americas, Atlantic LNG has taken one of its trains offline for maintenance.