Asian LNG prices spiked to their highest since early January over the weekend in the wake of Israel’s response to Iran’s action amid fears that the conflict will widen. The North Asian spot rate exceeded $11/million Btu on Tuesday from $8/million Btu at the end of February, a 40% jump.
In the same way, another LNG competitor Europe also experienced a similar rise. Traders are shying away from short positions while they weigh up the possible escalation of tensions in the Middle East, which has bullish…
