Australian LNG Shares Jump as Iran Crisis Hinders Global Supply

Shares in Australian liquefied natural gas exporters surged after tankers stopped crossing the Strait of Hormuz, hampering about a fifth of global supply and threatening to raise prices of the fuel.

Woodside Energy Group Ltd.’s stock climbed as much as 11%, the most in almost six years, while Santos Ltd. advanced as much as 9%. Japan’s Inpex Corp., which also operates an LNG export facility in Australia, gained as much as 11% in Tokyo.