Asian liquefied natural gas prices climbed to their highest since late March as escalating hostilities in the Middle East intensified fears of prolonged shipping disruptions through the critical Strait of Hormuz. The waterway, which handles roughly 20% of global LNG trade, remains a focal point for energy markets as geopolitical instability threatens supply routes.

Traders are pricing in extended risk premiums as the conflict shows no immediate signs of resolution. The Japan Korea Marker (JKM), the benchmark for spot LNG in Northeast Asia, reflected the heightened anxiety with gains across the forward curve. Market participants are closely monitoring any developments that could affect vessel transit through the strait.

Analysts note that while current inventories in key importing nations like Japan and South Korea are adequate for near-term demand, sustained disruption could force buyers to seek alternative supplies at premium prices. The situation underscores the vulnerability of global energy infrastructure to regional conflicts.