.jpg)
2 hours ago
3
Article content
(Bloomberg) — European natural gas resumed its advance as uncertainty over the duration of the supply disruption from the Iran war persisted, even as Washington extended a truce.
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 edged higher after dramatic swings in the previous session. US President Donald Trump said on Tuesday that he’s indefinitely extending the ceasefire with Iran just before its expiration, while maintaining a naval blockade of the Strait of Hormuz after planned peace talks between the two sides didn’t happen.
Article content
Article content
Article content
Trump said the US would hold off on fresh attacks on Iran, but keep blocking ships in Hormuz linked to Tehran until “discussions are concluded, one way or the other.” On top of that, some ships were fired on near Hormuz, following attacks over the weekend that ratcheted up tensions in the vital waterway.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
“Gas will not flow through the Strait of Hormuz for the foreseeable future,” said Florence Schmit, energy strategist at Rabobank. Futures have retreated from last month’s peaks, but “the longer prices stay at the current low levels the bigger the upside becomes once the physical reality catches up.”
Article content
Traders are laser focused on developments in the Middle East as Hormuz remains effectively blocked, cutting off about a fifth of the world’s liquefied natural gas. While most of that fuel would normally go to Asia, Europe faces increased competition for alternative supplies in the coming months, just as the region should be replenishing its gas inventories before winter.
Article content
Dutch front-month futures, Europe’s gas benchmark, traded up 2.4% at €42.94 a megawatt-hour by 10:42 a.m. in Amsterdam. The contracts added more than 8% in the previous two sessions.
Article content
Advertisement 1
English (US)