{
  "id": 6956925,
  "title": "Asia spot LNG prices at highest level since December 2022 on Mideast escalation",
  "url": "https://urgent.news/2026/09/11/asia-spot-lng-prices-at-highest-level-since-december-2022-on-mideast",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-11T21:00:00.000Z",
  "source": {
    "name": "Gulf Times Business",
    "slug": "gulf-times-business",
    "url": "https://www.gulf-times.com/article/733102/business/asia-spot-lng-prices-at-highest-level-since-december-2022-on-mideast-escalation"
  },
  "original_language": "en",
  "account": "Asia's liquefied natural gas (LNG) prices soared to their highest level since late 2022 amid heightened tensions in the Middle East. The escalation of conflict and increased attacks on shipping routes through the Strait of Hormuz have disrupted supply, leaving Asian countries scrambling to secure limited LNG cargoes at premium prices.\n\nBrent crude futures reached $104.61 per barrel, marking a 8.7% weekly increase, while US West Texas Intermediate (WTI) crude hit $100.05 per barrel, up 9.4% for the week. The rising oil prices, coupled with high European gas prices, have fueled competition for the already scarce LNG supply, pushing Asian spot LNG prices to $26.00 per million British thermal units (mmBtu).\n\nThe Strait of Hormuz, which traditionally handled about 125 commodity vessels and a fifth of global daily oil and LNG supplies, saw a significant drop in vessel transits from 11 to just seven on Thursday. This reduction in transit volume has exacerbated the already tense situation, forcing several South Asian nations to bid for spot cargoes at exorbitant prices.\n\nEurope's gas prices are also on the rise, with the Dutch TTF gas price settling at $27.26 per mmBtu, a 10.5% weekly gain. The ongoing pipeline maintenance plans in Algeria and Norway are expected to further strain EU gas supplies, potentially extending the bullish momentum into next week.",
  "summary": "OilOil prices remained on course for a weekly gain of more than 8%, while US diesel prices hit a record high as attacks along Middle East shipping routes stoked concerns about prolonged supply disrupt...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}