Asian LNG Prices Set to Rise as US Threatens to Block Hormuz

Asian spot liquefied natural gas prices are set to rise, as the US moved to blockade the Strait of Hormuz after Washington and Tehran failed to reach an agreement in peace talks over the weekend.

US forces will begin implementing a blockade of all maritime traffic entering and leaving Iranian ports on Monday at 10 a.m. New York time, the US Central Command said. They won’t impede freedom of navigation for vessels transiting the strait to and from non-Iranian ports, Centcom added.