European Gas Prices Rally on U.S.-Iran Stalemate
- On Monday, European gas prices rose 2% in Amsterdam as the United States and Iran remained deadlocked over reopening the Strait of Hormuz, with President Donald Trump rejecting an Iranian peace deal proposal over the weekend.
- Iran threatened to expand the war to the Indian Ocean, further restricting LNG shipments; while some Qatari and UAE cargoes transited the Strait of Hormuz recently, traffic remains far below pre-war levels of roughly three shipments daily.
- European gas storage sites are just below 71% full, trailing the 80% seasonal norm, with Germany storage sites at about 57% full, raising supply security concerns if the coming winter turns colder than average.
- Limited Middle East supplies force Europe to compete with Asia for global fuel, though the European Commission stated last week that gas supply remains stable, with the Gas Coordination Group continuing its security advisory work.
- Expert Anne-Sophie Corbeau of Columbia University noted that constant oscillation between de-escalation and conflict creates unmanageable market conditions, as traders weigh geopolitical developments against efforts to rebuild depleted stockpiles before winter.
42 Articles
42 Articles
Today, the prices of natural gas in Europe rose as customers looked forward to the talks on the reopening of the Strait of Hormuz, after a decline of more than 9% over the past week.
European Gas Prices Rally on U.S.-Iran Stalemate
Europe’s benchmark natural gas prices rose by 2% in early trade in Amsterdam on Monday, as the United States and Iran are again locked in a stalemate over negotiations and conditions for reopening of the Strait of Hormuz. The front-month futures of the Dutch Title Transfer Facility (TTF), the benchmark for Europe’s gas trading, were up by 2.15% at $83.76 (73.62 euros) as of 7:15 a.m. Amsterdam time on Monday, after falling last week by about 9%.…
The October futures at Europe's largest distribution centre lost more than 3%, dropping to $855 per thousand cubic metres. On Friday morning, the cost of fuel on the London ICE market showed a marked decline, transmitting RIA News to RIA by nine hours in Moscow time, the figure was $855.6, although the trade opened up a small increase. The rapid increase in energy costs in Europe occurred earlier in the context of the worsening conflict in the M…
The price of gas is falling, with operators focusing on the development of geopolitical tensions and on the levels of storage. In Amsterdam the prices show a decrease of 1.4% to 78.36 euros to the megawattora. (ANSA). (ANSA)
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