Rotterdam LNG Price Surges Amid US-Iran Tensions

LNG bunker prices have surged due to increased tensions between the US and Iran. The Rotterdam price has risen by $67/mt to $1,346/mt over the past week, following gains in the front-month Dutch TTF natural gas contract.

The TTF has increased by around 1% to $23.63/MMBtu ($1,229/mt) due to geopolitical risk intensifying amid continued tensions between the two nations. JOGMEC notes that 'the US and Iran might, or might not, start negotiating again at some point, but for now, nothing suggests a reopening of Hormuz is right around the corner.'

The Singapore LNG bunker price has remained broadly steady over the past week, with the front-month NYMEX Japan/Korea Marker (JKM) contract rising by $1.24/MMBtu. However, this increase was offset by an approximately 4% decline in the assessed bunker delivery premium.