LNG Prices Rise Globally as Strait of Hormuz Constraints Continue

The closure has impacted around 20 percent of global daily LNG supplies.

Tankers sail in the Gulf near the Strait of Hormuz on March 11, 2026. Reuters

Liquefied natural gas prices in Europe and Asia have surged amid the closure of the Strait of Hormuz waterway, diverging from U.S. prices, the U.S. Energy Information Administration (EIA) said in an April 28 statement.

“Futures prices for liquified natural gas (LNG) delivery to the Title Transfer Facility (TTF), the European benchmark price, increased to $14.80 per million British thermal units (MMBtu) for the week ending April 24, 35 percent higher than before the closure” of the Strait, the EIA stated.