Asian spot LNG prices surged 10% to $20.2 per mmBtu, while US gas prices topped $4 due to shipping disruptions in the Strait of Hormuz. Oil prices rose sharply amid renewed Middle East conflict, complicating the economic outlook despite cooler-than-expected US inflation data. While soft CPI and PPI data eased immediate Federal Reserve rate-hike fears and lowered bond yields, markets remain wary of rising energy costs.
