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Global Business News

The Economic Times

Global Business / The Economic Times

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A scorching Asian summer will add to risk of surging gas prices

Global gas markets are on edge as the Strait of Hormuz remains largely closed. Traders are watching China and weather forecasts closely. Hotter summers in Asia, potentially fueled by El Nio, will increase air conditioning use. This could boost demand for liquefied natural gas, especially from China, leading to fiercer global competition and higher prices as Europe prepares for winter.

26 May 2026 6:58 am