Bloomberg Daybreak: Asia Edition Oil-Gas Surge on Mideast Attacks, Fed Holds Rates Steady
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Mar 19, 2026 David Finnerty, Bloomberg FX and rates strategist who decodes central bank moves and currency swings. Sing Yee Ong, Asia energy reporter tracking LNG flows and supply shocks. They discuss the Qatar LNG plant strike and its hit to Asian gas supplies. They talk about surging LNG prices, shipments stuck in the Strait of Hormuz, and how oil-driven inflation could reshape Fed plans.
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Asian LNG Prices Doubled After Qatar Disruption
- Asian LNG spot prices doubled after Qatar halted production and strikes disrupted shipments through the Strait of Hormuz.
- Prices moved from about $10 pre-war to above $20, leaving buyers unable to secure cargoes and pushing spot demand higher.
Strait Of Hormuz Bottleneck Hits Asian Supply
- About 20% of global LNG shipments transit the Strait of Hormuz, with a large share headed to Asia.
- With the strait effectively closed, many cargos are stuck and none carrying LNG are currently passing through it.
Other Producers Can't Quickly Replace Lost Middle East Supply
- Major producers like Australia and the US are already near full capacity, limiting ability to replace lost Middle East flows.
- Upcoming Asian summer heat and higher power demand will further strain limited supply.