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LNG Prices Could Jump Further as Hormuz Supply Crunch Persists

LNG prices have room to rise by about a third from the current very high levels amid low European gas inventories and fierce competition for spot supply between Europe and Asia, analysts and industry executives say. Europe is heading into winter with one of the lowest levels of gas in storage in the past two decades as the war in the Middle East crippled LNG supply from Qatar, sent gas and LNG prices in Europe and Asia skyrocketing, and intensified competition for readily available global LNG cargoes that don't need to cross geopolitically charged…