Natural gas prices in Europe have been climbing over the past week, as recent world events bring uncertainty to the market. Should the continent be worried about its gas supplies?
Natural gas prices in Europe have been climbing over the past week, as recent world events bring uncertainty to the market.
European natural gas prices are displaying increased uncertainty, with investors placing higher bets for the upcoming months due to growing concerns about Chevron’s operations in Israel and Australia, which are casting a long shadow over the market outlook.
The price for a November 2023 delivery was close to €50 per megawatt-hour, the highest since April, following a 15% surge on Monday, amid increasing supply concerns.
US oil giant Chevron Corp has stopped production at its offshore Tamar natural gas field near Israel’s northern coast, after being instructed so by the Israeli government, due to safety concerns as the conflict in the region intensifies.
At the same time, workers at Chevron Corp’s liquefied natural gas facilities in Australia were reportedly planning to resume strikes.
There is also a high probability, signalls the Copernicus Climate Change Service, that Europe will have a very mild winter, potentially reducing the demand for heating fuels.
The original article contains 312 words, the summary contains 169 words. Saved 46%. I’m a bot and I’m open source!
This is the best summary I could come up with:
Natural gas prices in Europe have been climbing over the past week, as recent world events bring uncertainty to the market.
European natural gas prices are displaying increased uncertainty, with investors placing higher bets for the upcoming months due to growing concerns about Chevron’s operations in Israel and Australia, which are casting a long shadow over the market outlook.
The price for a November 2023 delivery was close to €50 per megawatt-hour, the highest since April, following a 15% surge on Monday, amid increasing supply concerns.
US oil giant Chevron Corp has stopped production at its offshore Tamar natural gas field near Israel’s northern coast, after being instructed so by the Israeli government, due to safety concerns as the conflict in the region intensifies.
At the same time, workers at Chevron Corp’s liquefied natural gas facilities in Australia were reportedly planning to resume strikes.
There is also a high probability, signalls the Copernicus Climate Change Service, that Europe will have a very mild winter, potentially reducing the demand for heating fuels.
The original article contains 312 words, the summary contains 169 words. Saved 46%. I’m a bot and I’m open source!