Natural Gas Slips With Israel Supply Disruption Yet to Affect Market - The Wall Street Journal
Natural Gas Slips With Israel Supply Disruption Yet to Affect Market - WSJ
Oct. 17, 2023 3:31 am ET
0720 GMT – European natural-gas prices fall despite worries over supply disruptions from the Middle East. Benchmark gas futures are down 2.8% to EUR47.05 a megawatt hour, pushing prices more than 10% lower so far this week. “Israel gas disruption [is] not impacting LNG supplies yet,” Goldman Sachs analyst Samantha Dart says in a note. Dart highlights the worry that with Israel instructing Chevron to pause output from the Tamar gas field, Egypt might stop exporting LNG, as it would not be able to import Israeli gas. However, for now this has not materialized. Prices still could rise, driven by the possibility of a colder winter “and the fact that the Israeli gas disruption could still result in a reduction of LNG supply,” Dart says. ( yusuf.khan@wsj.com)
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