Japan Utilities Withhold Earnings Guidance on Volatile Fuel

Several Japanese power producers have withheld full-year earnings guidance due to uncertainty around the supply and cost of liquefied natural gas.

The war in the Middle East has driven a 70% increase in Asian LNG prices, while the Strait of Hormuz — a key chokepoint for energy supplies from the region — remains effectively closed to shipping nearly nine weeks into the conflict. The world’s biggest LNG plant in Qatar was also damaged by missile attacks last month.