Sharp increase in natural gas prices
As the danger of a regional war in the Middle East increases, natural gas prices are rising along with oil.
Indicative futures prices at TTF, Europe’s deepest virtual natural gas trading point, based in the Netherlands, rose by 6.1 percent today.
The increase in natural gas prices in Europe has reached 35 percent in the 13 days since October 7, when Hamas attacked Israel.
THE RISK OF IRAN AND HORUZ
The deactivation of a large field in the Mediterranean that supplies gas to Egypt and the emergence of concerns about this country’s liquefied natural gas (LNG) exports, as well as the increasing risks that Iran could become involved in conflicts, are effective in the increase in prices.
The risk of Iran’s involvement also raises security concerns for the Strait of Hormuz and the oil pipelines, through which Qatar’s LNG vessels pass.
Before winter, the price of a thousand cubic meters of natural gas in Europe amounted to $590.
TTF prices are also taken into account in natural gas imports from Turkey.
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
