Rotterdam LNG Bunker Price Surges Amid Geopolitical Tensions

LNG bunker prices in Rotterdam have increased due to supply risks and geopolitical tensions. The price rose by $80/mt to $1,209/mt, supported by a sharp increase in the assessed LNG bunker premium from $98/mt to $105/mt.

The Dutch TTF Natural Gas contract, a key benchmark for European gas markets, also increased by 7%, rising from previous consecutive declines. Analysts at ING Bank attributed this surge to fading optimism over a potential deal between the US and Iran, as well as supply concerns.

Supply risks are further exacerbated by reduced vessel transits through the Strait of Hormuz following attacks on vessels in the strait, according to JOGMEC. Low gas storage levels, forecasted high temperatures across Europe, and unscheduled maintenance at a Norwegian facility have also added upward pressure to prices.