European Gas Price Gains as Market Monitors Middle East Risks
0843 GMT – European natural-gas prices climb to 40 euros a megawatt hour in early trade as the market weighs the risk of supply disruptions in the Middle East. While LNG shipments through the Strait of Hormuz have so far remained unaffected, increased jamming of vessel signals has been reported following recent airstrikes. Meanwhile, Israel's Energy Minister Eli Cohen reportedly said some gas exports to Egypt and Jordan may soon resume, after the country shut down two gas fields for security reasons. The benchmark Dutch TTF contract rises 3.3% to 39.98 euros a megawatt hour, bringing weekly gains to nearly 11%. Last week, investment funds increased their net positioning in TTF by 27 terawatt hours, according to analysts at DNB Markets DNB -2.80%decrease; red down pointing triangle. (giulia.petroni@wsj.com)
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