Israel and the U.S. conduct military strikes on Iran, China’s fuel prices rise

Iranian Foreign Minister refuses to negotiate with the United States. After the Israel-Iran conflict erupts, international oil and gas prices surge significantly. The more market-oriented Chinese liquefied natural gas (LNG) industry has begun to raise prices under its influence. “Caijing” learned from multiple market institutions that on March 4th, LNG processing plants in many parts of China increased their ex-factory prices, with average prices in Shandong, Jiangxi, Anhui, and other regions exceeding 4,000 yuan per ton. Meanwhile, prices at LNG receiving stations, retail gas stations, and other segments of the LNG industry have all slightly increased. Industry insiders believe that this round of price hikes is mainly due to disruptions in natural gas exports from the Middle East. Currently, several energy consulting agencies believe that the disruptions in Middle Eastern natural gas production and transportation will be resolved within a month. Regarding the rise in China’s LNG prices, multiple industry experts told “Caijing” that the current price increase is modest, supply is sufficient, and the overall impact is manageable. (Caijing Magazine)