Liquefied natural gas prices in Asia rose to the highest in more than three years after hostilities between the US and Iran escalated, raising concerns over prolonged disruptions to flows through the Strait of Hormuz, Bloomberg reports.
Spot LNG climbed to $25.908 per million British thermal units late Wednesday, the highest since December 2022, according to traders. Prices have more than doubled from pre-war levels, with elevated costs weighing on the demand and budgets of some countries in Asia.
