Prices fell sharply on Wednesday on hopes that a ceasefire agreement between the US and its ally Israel and adversary Iran would jumpstart trapped liquefied natural gas shipments via the Strait of Hormuz.
However, no laden liquefied natural gas tankers have passed the strait so far, Jussila said.
“Optimism over the ceasefire faded after Tehran said several terms of the agreement had been breached,” analysts at ING Research said in a note.
Shippers on Wednesday said they needed more clarity on the terms of the ceasefire before resuming transit through the Strait of Hormuz, as Iran said the waterway remained closed to vessels sailing without a permit.