Strait of Hormuz Crisis Sends Global Natural Gas Prices Soaring
Global natural gas prices are on the rise as diplomatic efforts to reopen the Strait of Hormuz falter. The Strait's closure has had a significant impact on LNG supplies, which remain tight.
Asian and European markets have seen natural gas prices climb once again on Monday. This increase follows the fading hopes for a quick reopening of the Strait of Hormuz, a major shipping route in the Middle East.