Hormuz Strait Disruptions Tighten Oil and LNG Supply

Global LNG supply is tightening. Petronet lost at least 56 cargoes after Qatar declared force majeure. September supply is already unclear. The Strait of Hormuz carries about a fifth of global LNG trade. Asian buyers are turning to U.S., Omani, Nigerian, and Angolan supplies.

Natural Gas and LNG Tightness

On the four-hour chart, natural gas is trading around $2.65, below the 50- and 100-period exponential moving averages at $2.74 and $2.78. The RSI is at 31, in oversold territory. Support is at $2.62 and $2.55. Resistance is at $2.68 and $2.75. A break below $2.62 could send prices to $2.55. A move above $2.75 would shift the structure bullish.

WTI crude is around $81.76, consolidating near the 50-EMA at $81.29 and the 100-EMA at $80.95. Price recovered from the August low of $74.38 but has failed to break resistance at $84.33. The RSI is at 50, neutral. Support is at $80.94 and $77.81. Resistance is at $84.33 and $86.87. Holding above the EMA cluster maintains the bullish case. A break below $80.94 would weaken the short-term structure.

Brent crude is at $88.38, above both EMAs at $86.88 and $86.15. It recovered from $78.26 and is consolidating below resistance at $91.13. RSI is at 54, mildly bullish. Support is at $86.67 near the EMA cluster and $82.06. Resistance is at $91.13 and $95.23. Brent remains constructive above $86.15–$86.67. A sustained break above $91.13 would signal further gains.

Petronet's missing cargoes underscore the supply tightness in LNG markets. The next weekly U.S. inventory report and any further Strait of Hormuz disruption will set the near-term direction.