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Commodities

LNG Prices Soar Amid Hormuz Tensions

Guavy AI Editorial Team
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Oil Natural Gas
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Asian spot liquefied natural gas (LNG) prices have reached a five-month high due to an impasse in US-Iran talks over the Strait of Hormuz.

The average LNG price for October delivery into northeast Asia was $22.50 per million British thermal units, up from $21.30 per mmBtu the week before.

Meanwhile, oil prices have climbed on concerns over supply curtailment from major oil producers such as Saudi Arabia, Iraq, the UAE, and Kuwait.

US President Donald Trump threatened economic sanctions on Iran's trading partners, raising expectations of tighter supply in the coming weeks. Brent crude futures settled at $94.39 a barrel, and US WTI crude finished at $87.06 a barrel.

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