.jpg)
5 hours ago
1
Article content
(Bloomberg) — European natural gas prices moved higher as traders braced for a potential escalation in the Israel-Iran conflict and risks for global energy supplies.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Benchmark futures rose as much as 1.8% following choppy trading in the previous session. US President Donald Trump called for the evacuation of Tehran, and later said that his early departure from the Group of Seven summit in Canada has “nothing to do” with working on a ceasefire between Israel and Iran.
Article content
Article content
Article content
Although Europe looks well supplied for now, its heavy reliance on global flows of liquefied natural gas keeps prices prone to sharp moves when geopolitics create risks for the international energy trade. The continent needs more of the fuel in the coming months to replenish its gas stockpiles after they dropped to a three-year low this winter.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
A key threat comes from Iran’s ability to seal off the Strait of Hormuz if the war escalates, potentially blocking shipments from a top LNG exporter, Qatar. It’s also a key route for oil supplies from the region, leaving traders laser-focused on tanker movements.
Article content
The impact of the conflict on international gas markets has been limited so far, according to Goldman Sachs Group Inc. analysts Samantha Dart and Frederik Witzemann. Modest imports from China have left more fuel available for other buyers such as Egypt, which is rushing to find alternative suppliers after Israel slashed flows.
Article content
Separately, traders are monitoring plans in the European Union to gradually end reliance on Russian supplies by the end of 2027 — both pipeline gas and LNG — currently about 13% of the region’s imports. On Tuesday, the European Commission is set to disclose its detailed proposals on banning the flows.
Article content
Dutch front-month futures, Europe’s gas benchmark, rose 0.6%% to €38.12 a megawatt-hour by 8:52 a.m. in Amsterdam.
Article content
Advertisement 1
English (US)