LNG Bunker Prices Soar on Escalating US-Iran Tensions and European Supply Disruptions
The Rotterdam LNG bunker price has surged to $1,607/mt, following a sharp rise in the front-month Dutch TTF natural gas contract. The latest rally was fueled by escalating US-Iran tensions and mounting concerns over energy shipments through the Strait of Hormuz.
Supply risk concerns have grown after reported exchanges between the US and Iran, Houthi strikes on Saudi energy facilities, and attacks on Russia's fuel and energy infrastructure. According to the Japan Organization for Metals and Energy Security (JOGMEC), supply disruptions include unplanned maintenance at Norway's Asgard and Troll gas fields and the Kollsnes processing plant.
The TTF price has also been supported by a series of supply disruptions, including the shutdown of the Interconnector UK (IUK) pipeline linking the UK and Belgium. Meanwhile, slower gas storage injections across Europe and lower wind power generation have provided further support to gas prices.