Iran War and AI Boom Drive Global Gas Supply Crunch
LNG spot market prices in Asia have tripled since the start of the year. Asia and Europe are locked in a race for a limited number of cargoes. The U.S. is exporting record volumes…
Oil Crashes 9% as Trump and Vance Blame Iran War for Midterm Rout
What I Cover Irina Slav has been writing about global energy markets since 2007, covering the oil and gas industry, energy security, commodities, and the…
LNG spot market prices in Asia have tripled since the start of the year. Asia and Europe are locked in a race for a limited number of cargoes. The U.S. is exporting record volumes of the fuel. And QatarEnergy just extended a force majeure on its own LNG exports. The world is short on gas—and will remain so for a while.
The Japan-Korea Marker, the Asian LNG benchmark, topped $31 per million British thermal units this month. In fact, the benchmark briefly rose above $33 per mmBtu, compared with a little over $9 per mmBtu in January this year. The price change speaks volumes about the impact of the war in the Persian Gulf on global gas supply security, as it took one of the top three liquefied gas exporters off the market.
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