# COLUMN-Suez blockage boosts Asia LNG price, but it probably shouldn’t: Russell | CNBC Africa

> Asia spot LNG rose to $6.80 per mmBtu in the week ended March 26 and US LNG futures gained 7.9% amid the Suez Canal blockage. Analyst Clyde Russell argues only small volumes flow to Asia through Suez, so the price rise is likely overdone.

- Date: 2021-03-29 · published 2021-03-29T12:00:00.000Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/48287-column-suez-blockage-boosts-asia-lng-price-but-it-probably-shouldn-t-russell
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

The Suez disruption is mainly a European LNG supply issue, so the Asian price jump may reverse, limiting its effect on energy and fertilizer costs for feed producers.

## Read by commodity

- NATGAS: bullish ▲
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2021-01-12 | [LNG Shipping Rates from U.S. Surge Record on Asia Buying Boom](https://feedsoft.ai/events/49024-lng-shipping-rates-from-u-s-surge-record-on-asia-buying-boom.md) | -4.8% | +12.9% |
| NATGAS | 2022-09-07 | [Global scramble for LNG tankers likely to boost gas prices further](https://feedsoft.ai/events/39771-global-scramble-for-lng-tankers-likely-to-boost-gas-prices-further.md) | +0.7% | -27.1% |
| NATGAS | 2021-01-15 | [Record LNG prices push South Asian countries, including Pakistan, to ration gas - Pakistan - DAWN.COM](https://feedsoft.ai/events/49338-record-lng-prices-push-south-asian-countries-including-pakistan-to-ration-gas.md) | -10.7% | +54.0% |
| NATGAS | 2022-09-27 | [Looming Feedstock Prices and Supply Constraints Pressurized the Methionine Prices in the U.S](https://feedsoft.ai/events/39911-looming-feedstock-prices-and-supply-constraints-pressurized-the-methionine.md) | -11.5% | -26.7% |
| NATGAS | 2023-08-28 | [Natural Gas Prices Rise As Supply Risks Persist \| OilPrice.com](https://feedsoft.ai/events/34752-natural-gas-prices-rise-as-supply-risks-persist-oilprice-com.md) | +9.3% | +5.4% |

## Sources

- cnbcafrica.com: https://www.cnbcafrica.com/2021/column-suez-blockage-boosts-asia-lng-price-but-it-probably-shouldnt-russell

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.