LNG Prices Surge to Multiyear Highs as West Asia War Squeezes Supplies
Renewed US-Iran hostilities and a largely stalled Strait of Hormuz have pushed Asian and European gas benchmarks to their highest levels in nearly four years.
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Renewed US-Iran hostilities and a largely stalled Strait of Hormuz have pushed Asian and European gas benchmarks to their highest levels in nearly four years.
The U.S. and Iran exchanged their heaviest attacks since July as Iranian missiles and drones targeted U.S. facilities across the region, raising risks for Gulf security, shipping and oil markets.
Brent crude topped $91 a barrel as renewed military strikes between the United States and Iran near the Strait of Hormuz revived fears of a wider energy supply disruption.
Iran is drafting formal conditions to reopen the Strait of Hormuz as Qatar mediates and the US claims shipping lanes are cleared of mines, though commercial traffic remains far below normal.
Iran has proposed excluding military vessels from the Strait of Hormuz under a new traffic-management agreement with Oman, though negotiations on the commercial corridor remain ongoing.
Iran and Oman are working on a temporary navigational corridor through the Strait of Hormuz, but the proposed route has not yet been formally announced or confirmed as operational.
Global equities weakened on Monday as investors awaited details of expected new U.S. sanctions on Iran and assessed the risk of further disruption to energy shipments through the Strait of Hormuz.
Iran has escalated pressure on shipping in the Strait of Hormuz, warning of fines and confiscation while advancing new transit fees as vessel traffic plummets.
While India faced severe LPG rationing and supply chain disruptions during the 2026 Strait of Hormuz closure, China's massive strategic reserves and structural preparation shielded its economy. Here is what the crisis reveals about…
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