Europe gas prices rise on Norwegian outages, tanker attacks
UNG•UNG•UNG•UNG•Dutch and British wholesale gas prices rose on Norwegian maintenance and tanker attacks in the Strait of Hormuz. The Dutch front-month contract gained €2.38 to €94.64 per MWh, while the British contract rose 5.47 pence to 236.12 pence per therm.
The Dutch front-month contract at the TTF hub rose €2.38 to €94.64 per megawatt hour by 0836 GMT, after reaching €97.74 earlier. The British front-month contract gained 5.47 pence to 236.12 pence per therm.
Norwegian maintenance revisions supported prices, with the Troll field outage extended by another day and its duration listed as uncertain. Iran said four oil tankers were hit by explosions in the Strait of Hormuz and that an LNG tanker struck a naval mine and suffered an explosion. LSEG gas analyst Yuriy Onyshkiv said the attacks indicated the U.S.-Iran conflict was far from over; stronger wind forecasts and warmer-than-average weather in the second half of December could weigh on prices.
