Asian LNG prices have climbed to their highest level since December 2022, with the Platts JKM benchmark reaching approximately $25.91 per million British thermal units on September 3, 2026. The price was more than double pre-war levels as the Iran conflict heightened geopolitical risks and raised concerns about disruptions to the Strait of Hormuz, a major shipping route. The move has focused attention on possible effects on crude oil, although current market odds of oil reaching a new all-time high by September 30 remain low. Observers are watching developments in the conflict, policy signals from OPEC’s Mohammad Sanusi Barkindo and Saudi Arabia’s Abdulaziz bin Salman Al Saud, upcoming reports from the International Energy Agency (IEA), and market sentiment through the end of the year. Vera offers live prediction-market analysis and invites users to sign up.