Asian spot liquefied natural gas (LNG) prices remained at their lowest level in nearly six months on Friday as U.S. President Trump's "liberation day" tariffs pulled global markets down amid fears of
Asian spot liquefied natural gas (LNG) prices remained at their lowest level in nearly six months on Friday as U.S. President Trump's "liberation day" tariffs pulled global markets down amid fears of a global recession.
The average LNG price for May delivery into north-east Asia LNG-AS remained unchanged from last week at $13.00 per million British thermal units (mmBtu), the lowest level since October 11, industry sources estimated.
"The risk of a global trade war and economic slowdown is pulling down global stock markets and fears of slower growth will impact energy prices too," said Alex Froley, senior LNG analyst at data intelligence firm ICIS.
Countries around the world threatened to retaliate against Trump's sweeping tariffs.
China announced additional tariffs of 34% on U.S. goods on Friday, the most serious escalation in a worsening trade war between Beijing and Washington.
"This is obviously not the best environment to get confronted by unseen import tariffs up to 34% for China, and 24-26% for India, South Korea and Japan," said Klaas Dozeman, market analyst at Brainchild Commodity Intelligence.
"The widely shared opinion is that this will harm global trade and industrial production, reducing the demand for LNG even further," he said.
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