Renewed tensions in the Middle East and the risk of supply disruptions in the Strait of Hormuz have sparked widespread market concern. According to traders, Asian spot LNG prices have risen by over 5% this week, more than doubling pre-conflict levels. Donald Trump stated that military action against Iran could be brief, but also warned to "be ready to go again at any time," making it difficult for market expectations of an escalating conflict to dissipate. The sharp price increase has already impacted Asian consumers, with Pakistan canceling an emergency procurement tender due to excessive bids, leading to a continued worsening of power shortages.