Asia Spot LNG Prices Hit 5-Month High as Hormuz Blockage Drags On
Asia Spot LNG Prices Hit 5-Month High as Hormuz Blockage Drags On Trump's 65-billion-barrel Venezuela oil deal… Spot LNG prices in Asia jumped on Tuesday to the highest level since the 2026 winter, as buyers compete for spot cargoes amid the still-stalled LNG traffic through the Strait of Hormuz.
Asia’s spot LNG price jumped to as high as $24.614 per million British thermal units (MMBtu) on Tuesday, traders toldBloomberg.
This was higher than the $23.388 per MMBtu from Friday, and the highest spot price for LNG deliveries into Asia in five months.
Prices in both Asia and Europehad jumpedat the end of last week after Qatar’s state-owned firm QatarEnergy extended the force majeure on its LNG deliveries into November amid still-blocked transits through the Strait of Hormuz.
SetOilPrice.comas a preferred source in Googlehere.
The LNG and gas price rally continued into this week after the U.S.
and Iran exchanged fire for the first time in more than a month.
Prices in Asia were driven by south Asian buyers, including Pakistan and Bangladesh, seeking spot supply to replace term supply from Qatar that cannot leave the Persian Gulf.
Per tender documents seen by Bloomberg, utilities in South Korea, India, Taiwan, and Bangladesh are looking to buy spot cargoes for October and November.
European benchmark natural gas prices alsojumped by 5%on Monday as the re-escalation of hostilities between the United States and Iran intensified concerns about LNG supply from the Middle East.
The benchmark price at the Dutch Title Transfer Facility (TTF) soared by 5% to top 70 euros, or $81.20, per megawatt-hour (MWh), after the U.S.
and Iran resumed trading strikes for the first time in more than a month.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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