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MNI Gas Weekly: Middle East Fears Keep Gas Markets on Edge

CommoditiesAnalysis

Executive Summary:

  • European Gas Benchmarks rallied this week over fears surrounding Israeli gas production as Iran launched a barrage of rockets at Tel Aviv on Tuesday. Benchmarks have eased as Chevron production quickly returned but risks remain.
  • Global Gas/LNG: Asian spot prices have halted losses, gaining on global supply risks and Middle East tensions, though supplies remain untouched at present. Greece’s Alexandroupolis facility has started operations while the New Fortress Altamira facility off Mexico achieved its first cargo it said this week.
  • Henry Hub prices in the US have seen further support as October commences. Steady production is set against above normal demand, while a declining storage surplus in recent weeks is also supportive as the market weighs colder weather risks heading into the winter season.
Full piece here:

MNI Gas Weekly - Middle East Fears Keep Gas Markets on Edge.pdf

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Executive Summary:

  • European Gas Benchmarks rallied this week over fears surrounding Israeli gas production as Iran launched a barrage of rockets at Tel Aviv on Tuesday. Benchmarks have eased as Chevron production quickly returned but risks remain.
  • Global Gas/LNG: Asian spot prices have halted losses, gaining on global supply risks and Middle East tensions, though supplies remain untouched at present. Greece’s Alexandroupolis facility has started operations while the New Fortress Altamira facility off Mexico achieved its first cargo it said this week.
  • Henry Hub prices in the US have seen further support as October commences. Steady production is set against above normal demand, while a declining storage surplus in recent weeks is also supportive as the market weighs colder weather risks heading into the winter season.
Full piece here:

MNI Gas Weekly - Middle East Fears Keep Gas Markets on Edge.pdf