Asian LNG Prices Surge Past $30 as Middle East Shipping Risks Escalate
Liquefied natural gas prices on the Asian spot market topped $30 per million British thermal units for the first time since December 2022, Bloomberg reported earlier today. The price jump follows a report about a strike on an LNG tanker in the Gulf of Aden, off the Yemeni coast. The UK Maritime Trad
Source: OilPrice.com
―
DW NOTE
Asian spot LNG at $30 while the Strait of Hormuz stays shut is a supply shock dressed up as a price move. Fifteen percent of global LNG flows through that choke point — every cargo rerouted around the Cape adds three weeks and $1.2 million in fuel costs. Utilities are paying the premium now or explaining blackouts later.