Daily LNG freight rates jump over 40% amid Mideast strikes, Spark Commodities says

SINGAPORE: Daily freight rates of liquefied natural gas (LNG) jumped more than 40% on Monday as a widening conflict following US and Israeli strikes on Iran - and Tehran’s retaliation - choked tanker traffic through the Strait of Hormuz.

Atlantic rates rose to $61,500/day on Monday, up 43% or $18,750 from the previous day, according to Spark Commodities, a pricing assessment agency for LNG shipping.

Qatar LNG, Saudi refinery, Israeli oil, gas fields down due to Mideast strikes

Pacific rates rose to $41,000/day, up 45% or $12,750 from the previous day.