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NATGAS: Biden Comments on Iran Prompt TTF Support

NATGAS
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Biden headline that Israel strikes on Iranian oil facilities are being discussed is proving supportive for TTF.

  • TTF NOV 24 up 2% at 39.41€/MWh
  • Escalations for oil are clear, meanwhile, fears for European gas markets surround potential retaliatory disruptions to Israeli offshore production (this could prompt Egypt to seek even more LNG)
  • The situation also risk LNG cargoes departing the Strait of Hormuz and tightening global supplies into the winter.
  • Biden comment: "Asked if he would support Israel striking Iran’s oil reserves in retaliation for Tuesday's missile attack, Biden said, “We’re in discussions of that” but “there’s nothing going to happen today; we’ll talk about that later.”"
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Biden headline that Israel strikes on Iranian oil facilities are being discussed is proving supportive for TTF.

  • TTF NOV 24 up 2% at 39.41€/MWh
  • Escalations for oil are clear, meanwhile, fears for European gas markets surround potential retaliatory disruptions to Israeli offshore production (this could prompt Egypt to seek even more LNG)
  • The situation also risk LNG cargoes departing the Strait of Hormuz and tightening global supplies into the winter.
  • Biden comment: "Asked if he would support Israel striking Iran’s oil reserves in retaliation for Tuesday's missile attack, Biden said, “We’re in discussions of that” but “there’s nothing going to happen today; we’ll talk about that later.”"