LNG prices surge as Europe and Asia compete for scarce cargoes

Global LNG price curves and fuel-switching thresholds during the Hormuz crisis

LNG prices have reached new 2026 highs as the prolonged disruption to Middle Eastern supply intensifies competition between Europe and Asia. Asian demand has absorbed much of the adjustment through fuel switching and demand destruction, while Europe initially balanced the market by reducing storage injections. With that flexibility now running out, Europe must pay more to attract marginal LNG cargoes, […]

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