Asian LNG Prices Surge to Three-Year Peak Over Iran Conflict

Asian liquefied natural gas soared to the highest level since 2023, as the Middle East conflict forced a shutdown at the world’s largest export plant in Qatar and halted shipping through the Strait of Hormuz.

Spot prices reached $25.40 per million British thermal unit in Asia, according to traders, more than double last week. Further upward pressure is expected for as long as Qatar’s output remains suspended and the vital trade route is choked, they added.