The panic buying of fuel is spreading everywhere quickly across Asia right now. Russia has agreed to further increase crude ​oil sales to India

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In a troubling overnight development that could further deepen the Gulf energy shock, especially in global LNG markets, a tropical cyclone has disrupted operations at three major Australian LNG facilities, which together account for roughly 8.4% of global supply. The timing is alarming: Iranian strikes have already knocked out about 17% of Qatar’s LNG export capacity, with repairs potentially taking years. The Australian outages now add near-term supply risks for buyers, particularly in Asia and Europe, who are already panicking and scrambling for new supplies.

Tropical Cyclone Narelle is bearing down on Western Australia’s coastline and has sparked major disruptions across three of Australia’s top LNG facilities, including Gorgon, Wheatstone, and North West Shelf (as per Bloomberg):

https://www.zerohedge.com/commodities/first-qatar-supply-shock-now-cyclone-chaos-slams-major-australian-lng-plants

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