empty
 
 

02.11.202603:11:14UTC+00European Gas Prices Fall on Hopes for Middle East Diplomacy

European natural gas prices eased to €102.5/MWh on Monday as intensified diplomatic efforts in the Middle East tempered fears of further escalation. Nonetheless, prices remained high against a backdrop of tight supply. US Secretary of State Marco Rubio noted that diplomatic channels with Iran were still open, and President Trump had yet to decide on any additional strikes. Iran’s supreme leader, in turn, warned both the US and Israel against carrying out further attacks. These developments coincided with a third consecutive day of talks between Iran and Qatar in Doha, aimed at bringing the conflict to an end. At the same time, LNG flows from the Persian Gulf remain heavily disrupted, with ongoing security risks in the Strait of Hormuz. As of November 1, Europe’s gas storage levels stood at 74.62%, a historically low level heading into the winter season. With temperatures dropping and withdrawals already underway in several countries, storage is likely to come under additional strain, maintaining significant upward pressure on prices.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback