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After five consecutive weeks of decline, the UP World LNG Shipping Index has stabilised at around 219 points, trading just below its rising 10-week moving average of around 220 points. This positioning represents a critical technical juncture: the index is testing this key support level for the first time since the golden cross formation in late January. UPI constituents are currently mixed, mostly moving sideways as geopolitical tensions in the Strait of Hormuz dominate the market.
The first rising phase of the year has finished, and the UPI is now in a consolidation phase, awaiting the next move. The second quarter is historically the weakest season, but this year is different as Qatar’s LNG production is limited due to war attacks.
