Bloomberg<\/em>, benchmark futures, which followed a volatile course in the previous session, increased by as much as 1.8%. US President Donald Trump demanded the evacuation of Tehran and later said that his early departure from the G7 summit in Canada had “nothing to do” with ceasefire efforts between Israel and Iran.<\/p>\nAlthough Europe appears to be in a good position regarding supply for now, its heavy dependence on the global flow of liquefied natural gas (LNG) makes prices susceptible to sharp movements if geopolitical developments pose a risk to international energy trade. The continent will need more fuel in the coming months to replenish its natural gas storage, which fell to a three-year low this winter.<\/p>\n
The most significant threat comes from the possibility that Iran could close the Strait of Hormuz if the war escalates, thereby blocking shipments from Qatar, the largest LNG exporter. As the strait is also a vital route for oil shipments from the region, traders are closely monitoring tanker movements.<\/p>\n
According to Goldman Sachs<\/em> analysts Samantha Dart and Frederik Witzemann, the impact of the conflict on international gas markets has been limited so far. Modest imports by China have made more fuel available for other buyers, such as Egypt, which rushed to find alternative suppliers after Israel cut off its flows.<\/p>\nAdditionally, traders are following the European Union’s plans to phase out its dependence on Russian pipeline gas and LNG supplies by the end of 2027. This supply currently accounts for about 13% of the region’s imports. On Tuesday, the European Commission will announce its detailed proposals regarding the ban on these flows.<\/p>\n
The Dutch front-month futures, Europe’s benchmark natural gas price, rose by 0.6% to \u20ac38.12 per megawatt-hour at 8:52 AM in Amsterdam.<\/p>\n","protected":false},"excerpt":{"rendered":"
European natural gas prices have risen as traders prepare for the possibility of an escalating Israel-Iran conflict and the associated risks to global energy supply. According to a report from Bloomberg, benchmark futures, which followed a volatile course in the previous session, increased by as much as 1.8%. US President Donald Trump demanded the evacuation […]<\/p>\n","protected":false},"author":1,"featured_media":10049,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[3],"tags":[10760,10762,10665,8992,2338,8841,10761,10764,4539,10763],"class_list":["post-10048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-europe","tag-european-gas-prices","tag-global-energy-supply","tag-israel-iran-conflict","tag-liquefied-natural-gas","tag-lng","tag-middle-east-tensions","tag-natural-gas-futures","tag-qatar-lng","tag-russian-gas","tag-strait-of-hormuz"],"yoast_head":"\n
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