Commodities
Asian LNG Prices Spike Above $23 Amid Ongoing Strait of Hormuz Disruptions
The Asian liquefied natural gas market saw prices surge to $23.388 per million British thermal units due to sustained concerns about the Strait of Hormuz.
Qatar's state-owned QatarEnergy has extended its force majeure on deliveries of LNG to European and Asian buyers by another month, citing ongoing disruptions in the region.
This move comes after QatarEnergy notified Pakistani buyers that LNG cargo cancellations would continue into October.