Qatar's LNG exports drop 96% after Strait of Hormuz closure

After the de facto closure of the Strait of Hormuz, Qatar exported only 18 shipments of liquefied natural gas, down from 509 a year earlier. The country lost about $24 billion in gas sales revenue. Increased LNG exports from the U.S. partially offset these losses. Meanwhile, gas storage levels in Europe are at a record low for this time of year, raising concerns of a sharp price surge before winter, Reuters reports.