LNG prices softened on a quarterly basis in Q3 2025, with Henry Hub spot prices averaging US$3.03/MMBtu, down 5.0% QoQ but still 43.2% higher YoY. The decline reflected sustained production strength, high storage levels, and weaker seasonal power demand, which offset July’s export-driven gains and a modest late-summer rebound in September. Despite robust U.S. LNG exports, domestic oversupply and mild weather conditions continued to cap prices.

Average crude oil prices edged higher in Q3 2025, marking a cautious recovery after sharp declines in the previous quarter. Early gains were supported by stronger demand, easing geopolitical tensions, and improved trade sentiment. However, mid-quarter softness followed successive OPEC+ output hikes and speculative selling, before late rebounds driven by resilient physical markets, expectations of U.S. rate cuts, and reduced volatility stabilized benchmarks.

Global caustic soda prices weakened in Q3 2025 as subdued demand and ample supply dominated market dynamics. The U.S. Gulf spot export price fell 14.7% to US$405.00/mt, while Northwest Europe decreased by 16.1% to US$426.25/mt, reflecting weak consumption amid economic uncertainty and new trade tariffs, with sporadic outages offering only marginal support.