European Gas prices jump on cold weather and Iran risks – ING
Source Fxstreet
European Natural Gas prices surged, with TTF rising 6.6% to above €30/MWh as colder weather boosted heating demand and unrest in Iran raised concerns over LNG and pipeline supplies, ING's commodity experts Ewa Manthey and Warren Patterson note.
LNG supply concerns lift European Gas market
"European Natural Gas prices surged yesterday, with TTF settling 6.6% higher, returning to above EUR30/MWh. Colder weather across large parts of Europe increases heating demand, while unrest in Iran is a concern for Gas markets."
"First, there are potential risks to LNG flows from the Persian Gulf. Second, there’s the potential for disruptions to Iranian Gas flows to Turkey. Given the large TTF fund short, it wouldn’t take much to move the market as funds run in to cover shorts."
Disclaimer: The content available on Mitrade Insights is provided for informational and marketing purposes only. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research
Nothing in this material constitutes investment advice, personal recommendation, investment research, an offer, or a solicitation to buy or sell any financial instrument. The content has been prepared without consideration of your individual investment objectives, financial situation, or needs, and should not be treated as such.
Past performance is not a reliable indicator of future performance and/or results. Forward-looking scenarios or forecasts are not a guarantee of future performance. Actual results may differ materially from those anticipated.
Mitrade makes no representation or warranty as to the accuracy or completeness of the information provided and accepts no liability for any loss arising from reliance on such information.
Nothing in this material constitutes investment advice, personal recommendation, investment research, an offer, or a solicitation to buy or sell any financial instrument. The content has been prepared without consideration of your individual investment objectives, financial situation, or needs, and should not be treated as such.
Past performance is not a reliable indicator of future performance and/or results. Forward-looking scenarios or forecasts are not a guarantee of future performance. Actual results may differ materially from those anticipated.
Mitrade makes no representation or warranty as to the accuracy or completeness of the information provided and accepts no liability for any loss arising from reliance on such information.
Recommended Articles
Japanese Yen rises amid BoJ rate hike bets; USD/JPY slides below mid-155.00sThe Japanese Yen (JPY) attracts fresh buyers at the start of a new week as traders keenly await the highly-anticipated Bank of Japan (BoJ) rate decision on Friday. Market expectations for an imminent BoJ rate hike in December have risen recently amid a shift in rhetoric from Governor Kazuo Ueda.
The Japanese Yen (JPY) attracts fresh buyers at the start of a new week as traders keenly await the highly-anticipated Bank of Japan (BoJ) rate decision on Friday. Market expectations for an imminent BoJ rate hike in December have risen recently amid a shift in rhetoric from Governor Kazuo Ueda.
Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data. Silver trades at $95.04 per troy ounce, up 0.84% from the $94.25 it cost on Tuesday.
Cardano (ADA) is extending its correction, trading below $0.29 at the time of writing on Thursday after posting two consecutive red candlesticks over the previous two days.
Ripple Prime, the institutional prime brokerage platform of Ripple, has integrated Hyperliquid (HYPE) in an effort to expand into the decentralized finance landscape.
Bitcoin steadies at $70k while Ethereum and XRP face key resistance levels; technicals show bearish MACD crossovers despite oversold RSI conditions.
