India buys its most expensive LNG in years

Indian energy companies are paying some of the highest prices they've paid since 2022 for LNG on the spot market amid the Iran war, Bloomberg reported. GAIL paid over $23/mmbtu for a cargo it'll get in September, while GSPC paid in the mid-$23/mmbtu range. India turned to spot market after its biggest LNG supplier, Qatar, was hit by Iranian strikes.