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Jordan News
2 days ago
- Business
- Jordan News
European Gas Prices Set for First Monthly Increase Since January - Jordan News
European natural gas prices are on track to record their first monthly gain since January, driven by geopolitical developments and signs of tightening supply. اضافة اعلان According to Bloomberg, benchmark front-month futures are projected to rise by approximately 8% in May. Key Factors Behind the Surge: Increased scrutiny of Russian gas imports by European nations, as part of a broader roadmap to phase out fossil fuel dependence on Moscow. Germany's firm stance against reviving the Nord Stream 1 and 2 pipelines, effectively cutting off potential resupply routes from Russia. Supply constraints and elevated market caution, with traders responding to potential risks of reduced availability during peak summer demand and ahead of winter storage buildup. Current Market Snapshot: As of 9:09 AM (Amsterdam time), July delivery gas traded at €35.12 per megawatt-hour on the Dutch TTF hub, the region's primary benchmark. The anticipated monthly rise reflects mounting concerns over long-term energy security and the evolving energy policies across Europe, particularly amid ongoing geopolitical tensions and the continent's energy transition goals.
Al Arabiya
3 days ago
- Business
- Al Arabiya
Prices fall on Trump China comments, oil market drop
Dutch and British wholesale gas prices fell on Friday afternoon after being quite rangebound earlier in day, prompted by fresh concerns over a US-China trade war and falling oil prices. The benchmark Dutch front-month contract at the TTF hub was down 0.66 euro at 34.26 euros per megawatt hour (MWh) by 1318 GMT, marking a 10-day low, LSEG data showed. The July contract fell by 1.18 euros to 34.08 euros/MWh. The contracts earlier traded largely flat but showed a clearer downward trend in a reaction to comments by US President Donald Trump that China had violated an agreement on tariffs with the United States, a trader said. In combination with lower oil prices on news that OPEC+ producers could discuss a bigger July output rise this weekend, it was 'not great for gas,' the trader added. The British front-month contract was down 1.06 pence at 83.40 p/therm, while the weekend contract was down 4.00 pence at 79.50 p/therm. Prices are now largely back to the levels seen before a bout of Norwegian maintenance that started last week, LSEG analyst Saku Jussila said earlier. Total Norwegian export nominations recovered to 300 million cubic meters/day (mcm/d) on Friday afternoon from 296 mcm/day on Thursday, data from infrastructure operator Gassco showed. TTF gas prices had increased by almost 10 percent in May driven by concerns around tariffs, weather, and further delay risk for upcoming liquefied natural gas (LNG) projects, analysts at Jefferies Equities Research said in monthly report. 'We continue to see a tight market in '25, due to higher European injection demand, lost Russian pipeline imports (15bcm/yr), and LNG project delays,' they said. European gas storages sites are currently 47.2 percent full, data from Gas Infrastructure Europe showed. In the European carbon market, the benchmark contract was down 0.46 euro at 70.47 euros a metric ton.
Wall Street Journal
22-05-2025
- Business
- Wall Street Journal
European Gas Slips But Futures Positioning Turns Bullish
1130 GMT – European natural gas prices fall in afternoon trade, with the benchmark Dutch TTF contract down 0.8% to 36.32 euros a megawatt hour. However, analysts say there is likely limited room for prices to decline over the summer amid renewed investor confidence and supply concerns. Investment funds increased their net position in TTF gas futures by 5 terawatt hours last week, according to DNB Markets DNB -0.61%decrease; red down pointing triangle. 'The recent decline in net positioning, triggered by the turmoil following Trump's Liberation Day on April 2, has now reversed,' analysts at the firm say. Meanwhile, prices also find underlying support in supply-side issues following an outage of uncertain duration at a gas field in Norway and lower LNG send-outs. (
Wall Street Journal
21-05-2025
- Business
- Wall Street Journal
European Gas Price Rises on Supply Worries
0959 GMT – European natural gas prices climb in midday trading amid renewed concerns over supplies and stalled efforts to end the war in Ukraine. The benchmark Dutch TTF contract rises 1.5% to 37.55 euros a megawatt hour and is up 7.1% on the week. Prices were buoyed by an outage of uncertain duration at a gas field in Norway, a key source of supplies for Europe. Adding to pressure, LNG send-outs–the volume of gas that is regasified and sent into the pipeline network for distribution–fell to their lowest level since February, according to analysts at ING. 'Asian LNG prices have been trading mostly at a premium to European gas prices in recent months,' they say. 'This helps explain the lower LNG send-outs.' (
Qatar Tribune
18-05-2025
- Business
- Qatar Tribune
Oil posts weekly gain but remains under supply hike pressure
Oil settled higher on Friday, notching a second straight week of gains on easing U.S.-China trade tensions, although prices were held back by expectations of higher supply from Iran and OPEC+. Brent crude futures settled up 88 cents, or 1.4%, at $65.41 per barrel, while U.S. West Texas Intermediate crude futures closed 87 cents, or 1.4% higher at $62.49. The benchmarks posted a weekly rise of 1% and 2.4%, respectively. The contracts fell by more than 2% in the previous session on the prospect of an Iranian nuclear deal, which could result in an easing of sanctions that could see Iranian crude return to the global market. U.S. President Donald Trump said on Thursday the U.S. was nearing a nuclear deal with Iran, with Tehran 'sort of' agreeing to its terms. However, a source familiar with the talks said there were still issues to resolve. Investor sentiment was boosted this week by the U.S. and China, the world's two biggest oil consumers and economies, agreeing to a 90-day pause on their trade war during which both sides would sharply lower trade duties. The hefty reciprocal tariffs had raised concerns about a sharp blow to global growth and oil demand. Keeping a lid on supply additions, Kyiv and Moscow failed to agree to a ceasefire at their first direct talks in more than three years, with Russia presenting conditions that a Ukrainian source described as 'non-starters'. Meanwhile, Israel struck Yemen's ports of Hodeidah and Salif on Friday. Asian Spot LNG prices rise slightly on US-China tariff truce Asian spot LNG prices rose slightly for the second week running amid a slight uptick in demand as industrial sentiment improved following a 90-day tariff truce agreed by the United States and China during trade talks. The average LNG price for July delivery into north-east Asia was at $11.75 per mmBtu, up from $11.50 per mmBtu last week, industry sources estimated. In April, China, the world's largest LNG buyer, recorded its lowest LNG demand since October 2022, and has been reselling U.S.-sourced LNG cargoes to Europe due to a tariff war with the United States. A 90-day tariff truce was agreed by the United States and China during trade talks in Switzerland last weekend. This could unblock some of the two-way trade brought to a standstill by the conflict between the world's two biggest economies. If a final deal between the two powers is agreed, it might spur economic activity in China and support an increase in gas demand. In Europe, gas prices at the Dutch TTF hub remain range- bound between 11-12 USD per mmBtu. While ample supply and subdued demand have kept prices capped, a persistently narrow Asian JKM and Europe TTF spread is prompting renewed price competition with Asia. — By The Al-Attiyah Foundation
