Three chemical plants to be closed by Ineos due to high energy costs
Ineos, the company owned by Jim Ratcliffe, announced on Tuesday that it was halting production at three chemical plants located in Hull. The reason given for this decision is because of the high European gas prices, which have made production too expensive. Since the energy crisis caused by the Russian invasion of Ukraine, and the Middle East conflict compounded it?, European manufacturers have had to struggle to compete with U.S.
The British cap on energy prices will rise by 4% due to the Iran war.
The majority of British households will see their energy costs?rise in October, after the energy?regulator?Ofgem announced an increase of 4% in its domestic price caps as wholesale prices are pushed up by the war in Iran. The increase will be a major blow to Andy Burnham who pledged to reduce cost of living pressures. It also more than cancels out the measures that he announced in December to lower tax on electricity bills. High international?gas costs continue to drive up energy prices in the UK.
US Natural Gas Prices Fall With Ample Supply Maintaining Pressure on Market
U.S. natural gas futures fell for a second straight session on Monday, as ample supplies kept pressure on the market despite forecasts for hotter weather in the coming weeks. On its first day as the front-month, gas futures for August delivery on the New York Mercantile Exchange fell 8.2 cents, or 2.5%, to $3.20 per million British thermal units. The contract is down 2.7% so far this month. "The market…
EUROPE GAS - European gas prices rise on Middle East insecurity
Prices for Dutch and British gas rose on Monday due to uncertainty about shipments through Strait of Hormuz. This was despite the fact that Iran and the United States had agreed to stop recent hostilities between them in the Gulf region and Middle East. ICE data shows that the benchmark Dutch front-month contract was EUR0.868 higher at EUR41.65 per megawatt hour (MWh), or around $13.92/mmBtu by 0825 GMT. The British June contract increased by 2.05?pence to 99.85 pence a therm.
EUROPE GAS - European gas prices remain stable despite signs of tanker movements in the Strait of Hormuz
The Dutch and British gas prices were stable on Wednesday morning, as more tankers began to pass through the Strait of Hormuz. This led to renewed hopes of LNG exports. ICE data showed that the benchmark Dutch front-month contract was EUR0.254 lower at EUR41.76 per Megawatt Hour (MWh), or $13.90/mmBtu by 0810 GMT. The British June contract fell 0.52 pence to 99.77 pence a therm. In a daily report, analysts…
EUROPE GAS-European gas prices rise on warmer weather
Dutch and British gas contract prices firmed up on Monday, as warmer weather is expected in Central Europe. This will increase demand for gas. Ship tracking also showed that gas tankers are trying to cross the 'Strait of Hormuz' during the peace talks between the U.S. ICE data revealed that the benchmark Dutch front-month contract for the TTF hub had increased EUR0.65 to EUR42.80 a megawatt hour. The British spot contract increased by 1.64 pence to 102.7 pence per thermo.
EUROPE GAS-European Gas Prices Fall on US-Iran Peace Deal Hopes
Closure of the Strait of Hormuz affected global LNG transit and gas prices. LONDON, 12 JUNE - Dutch and British gas prices dropped on Friday after U.S. president Donald Trump canceled plans to strike Iran. This raised hopes of a possible peace agreement. ICE data showed that the benchmark Dutch front-month contract was EUR3.49 lower at EUR46.20 per Megawatt Hour or about $15.63/mmBtu as of 0807 GMT. ?ICE data revealed that the British June contract had dropped 9.3 pence to 110.46 pence a therm.
EUROPE GAS-European gas prices fall amid weaker demand, peace talk uncertainty
Dutch and British gas prices fell on Tuesday morning, as forecasts for strong wind power output lowered demand. The market also awaited more news regarding the U.S. Iran peace talks. ICE data shows that the benchmark Dutch front-month contract was EUR0.93 lower at EUR48.16/MWh? or around $16.44/mmBtu - by 0819 GMT. ICE data shows that the British June contract is down 2.59 pence to 116.5 pence per therm. Price action will remain headline driven. Fundamentals are slightly softer.
EUROPE GAS - European gas prices fall as the supply increases
Dutch and British gas rates edged lower on Wednesday as a result of a comfortable supply, which offset the concern about the ongoing disruption in the Strait of Hormuz. ICE data revealed that the benchmark Dutch front-month contract was EUR0.987 lower at EUR46.485/megawatt hour, or about $15.87/mmBtu at 0816 GMT. ICE data shows that the British June contract is down?2.22 pennies at 113.1 cents per therm.
EUROPE GAS-European gas prices rise as hopes dim for US-Iran peace deal
Dutch and British gas deals?rose? on Tuesday, as hopes for a peace deal? faded? after Donald Trump said that a ceasefire was "on life-support" with Iran following Tehran's refusal of a U.S. offer to end the conflict. Data from Intercontinental Exchange (ICE), showed that the benchmark Dutch front-month contracts at the TTF hub were up 1.16 Euros?at 47.39 Euros per Megawatt Hour (MWh), which is $16.28/mmBtu by 0823 GMT. The British contract was up by 3.42 pence to 116.85 cents per therm.
The price of gas in Europe has risen after Trump's rejection to the Iranian peace proposal
Dutch and British gas contract prices rose on Monday afternoon, following oil, after the United States rejected Iran’s response to a peace proposal. This ended any hope of an imminent end to the Iran War. Intercontinental Exchange data shows that the benchmark Dutch front-month contract on the TTF hub increased by 5.3%, to 46.47 Euro per megawatt (MWh), by 1436 GMT. The British contract was up 5.7% to 114.28 pence a therm. The U.S. President Donald Trump’s rapid rejection of Iran’s?response?
EUROPE GAS-European prices firm on latest US-Iran peace setback
Dutch and British gas contracts were firmed up on Monday, despite the fact that another attempt to end the 'U.S.-Israeli war against Iran' failed. The first Qatari LNG tanker was sailing through the Strait of Hormuz on its way to Pakistan. Data from the Intercontinental Exchange showed that the benchmark Dutch front-month contract for the TTF hub had increased by 0.68 euros to 44.83 Euro per megawatt hour at 0744 GMT. The British contract was 1.39 pence higher at 109.73 cents per therm.
The price of gas in Europe is rising as the uncertainty surrounding the Hormuz Strait fuels volatility
Dutch and British Gas Contracts on Monday Morning rebounded from heavy losses experienced late on Friday amid mixed messages over the?U.S. - Iran?peace?negotiations and whether or not the Strait of Hormuz is open. Data from the Intercontinental Exchange showed that the benchmark Dutch front-month contract was up 2,21 euros to 40,98 euros per megawatt (MWh) at 0655 GMT. Volatility is very high. The contract…
Prices of EUROPE GAS rise after US-Iran talks fall short
Dutch and British gas rates?rose? on Monday, after U.S. and Iran talks failed to reach an agreement to end the war, jeopardizing the fragile two-week truce. The U.S. army also announced that it would begin a blocking of all maritime traffic into and out of Iranian ports and coastal regions on Monday. Data from the Intercontinental Exchange showed that the benchmark Dutch front-month contract for the TTF hub had increased by 8.8% to 47.50 Euro per megawatt hour at 0754 GMT.
Gas prices in Europe fall ahead of Iran and US peace negotiations
Dutch and British gas prices dropped on Friday morning, as the market took a more cautious approach in anticipation of the upcoming 'peace talks' between the United States & Iran at the weekend. Israel also appeared to be willing to start peace negotiations with Lebanon. Data from the Intercontinental Exchange showed that the benchmark Dutch front-month contract was 44.90 euros per Megawatt Hour (MWh) at 0902 GMT. This is a decrease of 1.28 euros.
Prices of EUROPE GAS remain stable as LNG trapped in the Hormuz Strait remains behind.
Dutch and British gas contracts saw small gains Thursday morning as the optimism over a 'quick resumption of LNG shipments through the Strait of Hormuz following the U.S.Iran ceasefire faded. Intercontinental Exchange data showed that the benchmark Dutch front-month contract for the TTF hub had increased by 1.03 euros to 46.33 euros per Megawatt Hour (MWh) at 0833 GMT. The British contract in April rose 2.92 pence to 117.17 pence a?therm.
EUROPE GAS-European Gas prices rise as supply risks offset lower demand
The benchmark Dutch and British gas prices climbed a little higher on Monday, after the Yemeni Houthis launched their first attack on Israel at the weekend. This increased the U.S. - Israel war with Iran and raised fears of supply disruptions. ICE data shows that the benchmark Dutch front-month contracts at TTF hub were up 1.183 euro at 55.36 Euros per megawatt hour or around $18.65 /mmBtu by 0810 GMT. ICE data showed that the British April?contract rose 3.61 pence to 139.76 cents per therm.
EUROPE GAS - European prices are rising due to Middle East energy war fears
Dutch and British Gas Contracts rose on Monday morning and are likely to face another volatile trading session, as the Middle East war risks escalating strikes against energy infrastructure. The reopening of Strait of Hormuz is still a long way off. Data from Intercontinental Exchange showed that the benchmark Dutch front-month contracts?at TTF hub were up?3.01 euros at 62.35 euros per megawatt hour (MWh), by 0901 GMT. The British contract was up by 6.3 pence to 157.40 per therm.
The European market is seeking clarity about Qatari LNG supplies, which has led to a reduction in prices.
The Dutch and British gas price were lower on Wednesday, after rising earlier in the week. However, they could still be volatile, as traders try to gauge how long Qatari LNG supply will remain interrupted. Data from Intercontinental Exchange (ICE), showed that the benchmark 'Dutch front month contract' at the TTF hub had fallen by 1.02 euros to?53.27 per megawatt-hour (MWh) as of 1018 GMT. The price of electricity rose to a record high of 65.79 euro/MWh on Tuesday, the highest since January 2023.
Brent oil prices continue to rise amid Iran conflict with Brent reaching a 19-month high
The price of crude oil rose by about 7% Tuesday. This is the third time that oil prices have risen in a row. As the U.S./Israeli conflict with Iran intensifies, fuel shipments are disrupted, and 'fears' of further disruptions to Middle East oil supply and gas supplies increase. Brent crude futures rose $5.70 or 7% to $83.44 per barrel at 1326 GMT, after reaching their highest level since July 2024, $85.12. U.S. West Texas Intermediate Crude gained $5.03 or 7% to $76.26.