European Natural Gas Futures Fall Nearly 2% on Hormuz Strait Disruptions, LNG Supply Down 20%

On Tuesday, European natural gas futures fell nearly 2% below €40 per megawatt-hour as traders monitored escalating tensions in the Middle East. Over the weekend, traffic through the Strait of Hormuz was disrupted following artillery attacks on vessels, with Iran warning that ships attempting to transit could become targets. Several liquefied natural gas tankers from Qatar were forced to turn back or halt progress. Since late February, the region has seen zero LNG exports, interrupting approximately 20% of global LNG supply. Negotiations between the U.S. and Iran are underway, though prospects remain uncertain as the two-week ceasefire agreement set to expire Wednesday may not be extended.
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GateUser-9da46519vip
· 05-08 14:21
Buy the dip 😎
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