Asian spot LNG prices have climbed to their highest level since March as renewed disruption in the Strait of Hormuz raises concerns over Qatari exports and intensifies competition between Asia and Europe for cargoes.

Asian refiners are resuming purchases of U.S. spot crude cargoes as renewed disruptions in the Strait of Hormuz increase concerns over Middle Eastern oil supplies.

Spot LNG prices in Northeast Asia rose $1.30 to $17.80/MMBtu, and prices in Southwest Europe rose $2.55 to $17/MMBtu.