Al-Attiyah Energy: LNG Prices Remain Near Four-Month Highs

Spot liquefied natural gas (LNG) prices in Asia edged lower this week but remained close to their highest levels in four months, as concerns over Middle East shipping routes persisted following the attack on Egyptian gas facilities.

The average price for LNG cargoes scheduled for delivery to Northeast Asia in September stood at USD 21.35 per million British thermal units (MMBtu), down from USD 22.00 the previous week. Market analysts noted that many buyers have shifted toward U.S. LNG supplies as an alternative, while limited exports from the Middle East continue to support prices despite weaker demand caused by higher costs.

Meanwhile, oil prices closed more than USD 1 per barrel higher on Friday, posting their strongest monthly gains since March amid growing concerns over global crude supplies after reports that some oil tankers had turned back from the Strait of Hormuz. During July, Brent crude rose 24%, while U.S. West Texas Intermediate (WTI) gained 21%. At settlement, Brent closed at USD 90.12 per barrel, while WTI finished at USD 84.67 per barrel, despite both benchmarks recording weekly declines.