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Lng

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Qatari LNG tanker near the Strait of Hormuz after being hit by a projectile

Qatari LNG tanker near the Strait of Hormuz after being hit by a projectile

A Qatari ship carrying LNG that stopped after being hit by a projectile near the Strait of Hormuz is waiting for rescue operations after the fire was brought under control. Reuters reported that the ship was hit from the left and a fire in the engine room had increased the risk of an explosion; however, all crew members have been evacuated safely and the LNG tanks have not been damaged. Qatar, which has served as a…

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Reuters: Damage to a Qatari LNG cargo ship in the Strait of Hormuz is assessed as significant

Reuters: Damage to a Qatari LNG cargo ship in the Strait of Hormuz is assessed as significant

Reuters, citing four knowledgeable sources, said that the damage caused to a Qatari ship carrying liquefied natural gas that was targeted in the Strait of Hormuz last night is being assessed as significant. These sources say that the ship’s engine room caught fire and the crew cannot assess the extent of further damage. However, the ship’s staff are safe. Bloomberg early Tuesday, 16 Tir, reported that the ship,…

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Gas and oil prices rise after report of attack on LNG-carrying ship near Oman

Gas and oil prices rise after report of attack on LNG-carrying ship near Oman

Natural gas and oil prices rose after reports of an attack on a Qatari LNG-carrying vessel near the coasts of Oman, as it exited the Strait of Hormuz. The European natural gas index rose by more than 4.5% to 46 euros, equivalent to $52.5 per megawatt-hour. Brent crude oil prices also rose by 1.2% to about $73 per barrel, the highest level in the past week. State television of the Islamic Republic reported that the…

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After the Strait of Hormuz was reopened, the price of European gas fell by more than 6%

After the Strait of Hormuz was reopened, the price of European gas fell by more than 6%

The average gas price in European markets over the past month, following the reopening of the Strait of Hormuz, fell by more than six percent compared with May. Details from the “TTF Hub” in the Netherlands—Europe’s largest gas trading and pricing hub—show that the price of one thousand cubic meters of gas was above $613 at the beginning of June and $470 at the end of the month. As a result, the gas price also fell…

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