ReportedShipping, energy & marketsStrait of Hormuz; Europe and Asia
IEA says Hormuz LNG disruption could keep global gas markets tight into 2027
- Mountain Time
- Local time
- 5:30 PM in Paris
- Where
- Strait of Hormuz; Europe and Asia
The International Energy Agency said reduced LNG flows through the Strait of Hormuz, alongside low European storage ahead of winter, has intensified competition for spot cargoes in Asia and Europe and could keep the global gas market tight into 2027.
Why it matters
European and Asian buyers may need to secure alternative LNG supplies and pay higher spot prices during the winter heating season.
Source
- OilPrice.comoilprice.comPublished
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