Commodities
Asian LNG Prices Hit Highest Since 2022 Amid Middle East Tensions
Liquefied natural gas prices in Asia have surged to their highest level since December 2022, reaching $25.908 per million British thermal units late Wednesday.
The sudden spike is attributed to hostilities between the US and Iran, which has raised concerns over disruptions to flows through the Strait of Hormuz.
The prices have more than doubled from pre-war levels, putting a strain on the demand and budgets of some countries in Asia.