LNG

The Japan Korea Marker (JKM) for LNG delivery into northeast Asia for September could exceed $22/MMBtu at the start of this week as shipping disruptions widens and competition for Atlantic Basin cargoes intensifies between Europe and Asia.

An oil tanker in the Strait of Hormuz was hit by an unknown projectile, forcing the crew to abandon ship, according to United Kingdom Maritime ‌Trade Operations agency (UKMTO). No LNG carriers or very large very large crude carriers (VLCCs) were seen passing through the strait this week so far, as shipowners take precautions.