Asia LNG Prices Set to Fall Sharply After Deal to Reopen Hormuz

Spot liquefied natural gas prices in Asia are poised to fall roughly 17% to about $15 per million British thermal units, after the US and Iran agreed to a two-week ceasefire that could temporarily reopen the Strait of Hormuz, traders said.

US President Donald Trump agreed to suspend bombing as part of an agreement to reopen the vital waterway. Iran said safe passage through the strait will be possible via coordination with the nation’s armed forces during the ceasefire, though it hasn’t said how this will work.