The U.S. conflict with Iran hasn't only caused a disruption for oil passing through the Strait of Hormuz, but it has also putting pressure on liquefied natural gas (LNG) supplies.
Despite a tenuous ceasefire agreement reached on April 7, the strategic waterway—which is responsible for 20% of global oil supplies—also supplies more than 80% of Asia's LNG as well as a notable amount of LNG for European markets.
However, Iran's retaliatory attacks on Qatar are the bigger cause of disruption to the global LNG market. Qatar exports around 10 billion cubic feet per day (Bcf/d) of LNG—roughly 20% of the world's supply.
