Asian liquefied natural gas prices have climbed to their highest levels since December 2022, driven by the escalating conflict involving Iran. The Platts JKM benchmark, a key indicator for LNG prices in Northeast Asia, reached approximately $25.91 per million British thermal units on September 3, 2026. This significant rise reflects more than double the pre-war levels, influenced by heightened geopolitical risks and concerns over potential disruptions in the Strait of Hormuz, a critical shipping route. These developments coincide with broader geopolitical tensions that traditionally affect related commodities such as crude oil.
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