Asian LNG Spot Prices Jump 10% as Hormuz Crisis Reignites Supply Fears

Spot prices of liquefied natural gas in Asia have surged by 10% in the past week to the highest level since March, as the re-escalation in the Middle East and the fresh near-halt to shipping through the Strait of Hormuz rekindled fears of supply in the world’s biggest LNG-importing region. On Thursday, spot LNG prices in Asia hit $20.2 per million British thermal units, traders told Bloomberg. Prices have jumped by 10% since last week, when the hostilities returned in the Middle East and the U.S.-Iran ceasefire appears close…