Natural gas declines as Israel supply disruption yet to affect market

Natural gas declines as Israel supply disruption yet to affect market

07:20 GMT – Natural gas prices in Europe are falling despite concerns about supply disruptions from the Middle East. Benchmark gas futures are down 2.8% at 47.05 euros per megawatt hour, sending prices down more than 10% so far this week. “The gas disruption in Israel is not yet impacting LNG supply,” Samantha Dart, an analyst at Goldman Sachs, said in a note. Dart highlights concern that with Israel’s instructions Chevron To suspend production from the Tamar gas field, Egypt could stop exporting LNG, as it would not be able to import Israeli gas. However, as of yet, this has not materialized. Prices could rise further, due to the possibility of a colder winter “and the fact that disruption to Israeli gas could further lead to a reduction in LNG supply,” says Dart. (yusuf.khan@wsj.com)

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With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
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