| Natural Gas prices keep pressing higher as supply towards Europe is getting cut short from all sides. First and foremost the Australian ports are due to close again for strikes as of next Monday, taking out nearly 10% of global LNG production. Next to that, the main Finland gas line towards Europe is closed due to possible sabotage. And Israel has pressed Chevron to halt its gas production seeing the elevated risk in the region, cutting short the supply via Egypte to mainland Europe. Meanwhile, the US Dollar (USD) pares part of Monday’s gains as the flight to safety eases. Investors were quite quick to assess the situation in Israel and Gaza. Markets were bracing for a possible spillover in the region to the bigger Oil-producing countries, though Saudi Crown Prince Mohammad bin Salman issued a statement late Monday urging both parties to come to the table instead of reverting to violence. Natural Gas is trading at $3.54 per MMBtu at the time of writing. Natural Gas news and market movers - Plans to expand the Nigerian LNG production are at risk of ever taking place as lack of feed-gas supply plays up.
- Finland reports a shutdown on one of its main gas pipelines toward Europe as sabotage has been reported.
- Temperatures in Europe are set to dip by roughly 10 degrees Celsius in the coming two weeks.
- Risk is being factored into Natural Gas price as the situation in Israel and Gaza remains very fragile, with possible spillovers in the broader Middle East region.
- Israel ordered the shutdown of the Tamar gas field run by Chevron Corp., citing safety concerns as fighting between its military forces and Hamas keeps escalating.
- The Israeli government has not informed the Egyptian government of any halt to the Leviathan gas field, one official said.
- Goldman Sachs sees marginal impact from Israel gas production disruption for now, according to a report.
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