Natural gas prices rising further – Danske Bank

Analysts at Danske Bank offer a brief overview of the Natural Gas prices, which continued to scale higher through the early part of the European session and hit a fresh year-to-date high in the last hour.

Key Quotes:

“Natural gas prices rose further yesterday, while oil prices stabilised. Multiple shocks have hit the natural gas market. Israel shut down part of its production and exports following the outbreak of the war with Hamas. Finland is investigating a leak on gas pipeline that may be due to external drone damage. Weather has turned colder in Northern Europe increasing heating demand. Finally, there is a risk of new strikes among LNG workers in Australia. The 1M TTF future rose close to EUR50/MWh yesterday - the highest since the spring, but still much lower than it was the same time last year.”