OppHub America Desk · · Source: oilprice-main
European Gas Prices Drop on Iran Deal Hopes after U.S. Midterms
Energy & climate policy: Lease, export, , and subsidy shifts move energy equities fast.
Based on reporting from oilprice-main.
The benchmark European natural gas prices fell by 2% in the early morning in Amsterdam on Thursday, extending Wednesday’s decline, after the resounding Democratic victory in the U.S. midterm elections raised hopes of a resolution to the Iran war and a return of LNG flows through the Strait of Hormuz.
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The benchmark European natural gas prices fell by 2% in the early morning in Amsterdam on Thursday, extending Wednesday’s decline, after the resounding Democratic victory in the U.S. midterm elections raised hopes of a resolution to the Iran war and a return of LNG flows through the Strait of Hormuz. The front-month price at the Dutch Title Transfer Facility (TTF) , the benchmark for Europe’s gas trading, fell by 2.2% as of 9 a.m. in Amsterdam on Thursday, as energy markets hope the path forward to the Iran war could be pursuit of diplomacy rather than escalation. At $96.87 (86.14 euros) per megawatt-hour (MWh), the front-month TTF price is now at its lowest in two weeks, and markedly down from the four-year high of over 101.82 euros ($114) per MWh at the end of last week.
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Based on reporting from oilprice-main.
Informational and educational only — not investment, financial, or legal advice. Disclosure
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