Jul. 7 at 5:41 PM
$VG EU natural gas prices rose more than 4% to above €46 per MWh on Tuesday, recouping losses from the previous day after reports that a Qatari LNG tanker was attacked while exiting Hormuz. Iranian st TV said that the vessel came under attack after disregarding warnings, though it did not explicitly claim responsibility. Earlier, two commercial ships were reportedly hit by Iranian missiles, putting the agreement aimed at halting attacks in the waterway to the test. Further supporting prices, weather forecasts indicate that another spell of extreme heat is set to hit NW Europe, which is expected to significantly boost air-conditioning use and power demand. The increase in demand comes as the region’s gas inventories remain relatively low, with storage facilities currently around 49% full, well below the nearly 60% level recorded at the same time last year. This heightened concerns over whether Europe will be able to rebuild sufficient reserves ahead of winter https://tradingeconomics.com/commodity/eu-natural-gas
