60 Days
Source:
الاقتصادية
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Asian gas prices rise to a 4-month high amid tensions in the Strait of Hormuz
Natural gas prices in Asia have risen to their highest level since late March, driven by a deteriorating situation in the Strait of Hormuz resulting from escalating confrontations between the United States and Iran. Spot prices have reached around $20.2 per million British thermal units, marking an increase of approximately 10% over the past week. Ongoing tensions threaten to disrupt the flow of ships through the strait, which is a major passage for about one-fifth of global gas supplies. The escalation has caused shipping disruptions, with Asia purchasing more gas at higher prices amidst nearly complete shutdown of vessel movement through the strait due to the American blockade and Iran's attempts to keep the passage closed. This situation is fueling expectations of rising prices and the worst supply shortages in the region in the coming months.
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