Since Monday, the price of gas has jumped by 50%.
Gas prices in Europe are not slowing down – fuel is becoming more expensive for another session, and in the last 2 days the price of the raw material has increased by over 50%. – brokers inform.
Benchmark gas contracts in Amsterdam (ICE Entawex Dutch TTF) are at EUR 51.70 per MWhhigher by 16.2%, and after the price increases during trading on Monday, by almost 50%.
Gas exports from Qatar suspended
There is growing concern among investors about how long gas exports from Qatar will be suspended halted liquefied natural gas production at the world’s largest export facility after an Iranian drone attack.
QatarEnergy confirmed the suspension of production on Monday.
QatarEnergy’s Ras Laffan facility supplies about one-fifth of the global LNG supply.
This situation is dangerous the most serious shock to gas markets since Russia’s invasion of Ukraine four years ago that disrupted global energy trade.
How long will the fighting in the Middle East last?
Analysts, in turn, indicate that the most important question is how long the fighting in the Middle East will last.
US Secretary of State Marco Rubio announced that the strongest US attacks on Iran are yet to come. “The strongest attacks from our military are yet to come,” said the head of American diplomacy.
“We hope that the Iranian people will manage to overthrow the current authorities, but this is not the goal of our operation,” he said on Monday. He emphasized that the goal of the American operation is to destroy Iran’s ballistic capabilities and navy. Rubio also announced that the next phase of the operation will be much stronger than the current one.
US President Donald Trump, in turn, pointed out that The US will continue operations in Iran, no matter what it takes.
“We expect significant gas price volatility in the coming days as market participants assess the impact of lost LNG production on their supply portfolios,” said Ross Wyeno, associate director of short-term LNG market research at S&P Global Energy. “The buyers who will be most aggressive in spot purchases in the near term are likely to be from Asia-Pacific markets,” he added.
