Cheniere Energy Inc. (NYSE:LNG) is one of the Ten stocks heat up amid market panic.
Cheniere Energy soared to a new all-time high on Wednesday, as investors loaded up wallets amid continued global LNG supply disruptions, while applauding announcements of larger long-term orders from the Kingdom of Thailand.
In intraday trading, Cheniere Energy Inc. (NYSE:LNG) jumped to its highest price of $267.24 before paring gains to end the session up 5.85 percent at $266.22 apiece.
Cheniere Energy Inc. (NYSE:LNG) reflected higher natural gas prices on the day, which rose 5.59 percent to $3.20/MMBtu, as the continued closure of the Strait of Hormuz, one of the most critical waterways for global trade, supported rising natural gas prices.
Oleksandr Kalinichenko / Shutterstock.com
This month alone, natural gas prices have already risen 6.90 percent.
Adding to sentiment earlier in the week was news that Thailand is currently in talks with Cheniere Energy Inc. (NYSE:LNG) to expand and accelerate LNG deliveries under an existing long-term contract, as the Kingdom aims to secure sufficient supply to support its energy sector.
Energy Minister Auttapol Rerkpiboon said the Southeast Asian company is increasing its LNG orders from Cheniere Energy Inc. (NYSE:LNG) to 1.3 million tons from 1 million tons previously, with first delivery scheduled for the second quarter of the year.
The increase in orders is expected to continue for the next 15 years until 2041.
While we recognize the potential of LNG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that’s also benefiting significantly from Trump-era tariffs and the offshoring trend, check out our free report on best short-term AI stock.
READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.
Disclosure: None. Follow Insider Monkey on Google News.