European Natural Gas Futures Volatile amid Middle East Tensions
Apr 19, 202404:15 MDT
European natural gas futures fell to €31.5/MWh on Friday, after rising to as high as €33.8 due to heightened geopolitical tensions in the Middle East. Israel's recent strike on Iran has raised concerns about a potential conflict in the region.
The operation, carried out in the early hours of Friday morning local time, reportedly targeted the Isfahan airport, leading to flight suspensions in several Iranian cities.
However, conflicting reports have emerged regarding the extent of the damage caused by the strike.
Natural gas prices are still more than 2% higher amidst increased demand in Japan, supply disruptions in the United States, and pipeline issues in Norway