Asian LNG Dips From Three-Year High as Traders Weigh Hormuz Plan

Asian liquefied natural gas prices pulled back slightly from the highest level in three years, as the market weighed the viability of an American plan to ensure safe passage for tankers through the Strait of Hormuz.

Spot LNG eased to around $23.80 per million British thermal units in Asia, said traders, but levels were still more than double compared with last week. The sharpest rally in European natural gas in four years came to an abrupt halt on Wednesday after President Donald Trump flagged the safe transit plan.