May. 4 at 11:28 AM
$VG “European natural gas futures rose to around €47 per megawatt hour after briefly dipping to €44.5, remaining elevated following two weeks of gains driven by ongoing disruptions in the Middle East. Donald Trump said the US would begin guiding some neutral vessels through the Strait of Hormuz, which has been effectively closed since late February and has disrupted roughly a fifth of global LNG flows. However, some traders remain skeptical about the plan’s feasibility following recent security incidents near Fujairah. European gas prices have risen about 40% since the conflict began, as the blockage tightened global supply and increased competition for cargoes, though they have eased from peak levels as some Asian buyers reduced imports. Looking ahead, forecasts point to warmer and more volatile conditions across Europe in May, including periods of storms followed by renewed heat, potentially lifting cooling demand.”
