Asia Spot LNG Hits 5-Month High as Hormuz Blockage Persists

Asian spot LNG prices surged to $24.614/MMBtu, the highest in five months, as buyers compete for cargoes amid a prolonged blockage of LNG traffic through the Strait of Hormuz. The price jump follows Qatar's state-owned firm's disruption, with both Asian and European markets reacting. The sustained closure threatens global gas supply, with uncertainty over duration and impact on winter inventories.