SINGAPORE (Reuters) – Asia’s liquefied natural gas market is being distorted as the cost of LNG bought under long-term contracts linked to oil prices jumps to double spot gas cargoes amid tighter U.S. sanctions on Iran’s crude exports and cuts in OPEC oil supply. The price gap between LNG traded in the spot market and term cargoes linked to benchmark Brent crude oil has stretched to its widest in about 8 years, driving some buyers locked into term deals to try to delay shipments or look to adjust contracts. That comes as record supplies of LNG keep spot prices low, while prices under term contracts rise in tandem with oil. Brent this week hit highs so […]