Al-Attiyah Energy Foundation: Slight increase in LNG prices

A report by the Al-Attiyah Energy Foundation indicated a slight increase in liquefied natural gas (LNG) prices in the Asian spot market last week, driven by ongoing geopolitical uncertainty linked to peace talks between the United States and Iran, as well as the continued closure of the Strait of Hormuz.

The average LNG price for June delivery to Northeast Asia rose to approximately $16.70 per million British thermal units (MMBtu), up from $16.05 the previous week. Analysts noted growing concerns over a slowdown in declining demand across Asia, amid supply constraints linked to tensions with Iran and limited storage flexibility in China.

In Europe, the Dutch TTF gas price stabilized at $15.23 per MMBtu, marking a weekly increase of 12.4%, as markets began to absorb additional gas supply, including the first cargo from the U.S. Golden Pass facility, which is expected to arrive in Europe soon.

Meanwhile, oil prices experienced volatility during Friday trading but ended the week higher, as markets balanced supply disruptions against the possibility of renewed negotiations between the United States and Iran. Brent crude settled at $105.33 per barrel, while West Texas Intermediate (WTI) closed at $94.40, posting strong weekly gains of 16.5% and 12.6%, respectively.