Spot prices for liquefied natural gas (LNG) in Asia have climbed to their highest levels since late March, driven by acute supply fears stemming from renewed hostilities around the Strait of Hormuz.
The escalation has disrupted flows through one of the world’s most critical energy chokepoints, prompting a sharp repricing of near-term supply risk across Asian markets.
Brent crude prices also climbed sharply in the session, reflecting broader market anxiety over Middle East stability.
The move comes just weeks after a fragile ceasefire attempt, with reports of a new attack on a Qatari LNG carrier in waters off Oman underscoring the vulnerability of maritime transport routes.
Traders are increasingly factoring in the potential for prolonged shipping disruptions, which could tighten global gas supplies during a period of already constrained inventory buffers.
The Strait of Hormuz remains a focal point for energy markets, with any further deterioration in security conditions likely to amplify volatility in both oil and gas benchmarks.