- Analytics
- News and Tools
- Market News
- Gas price to soar further amid reduced supply – Commerzbank
Gas price to soar further amid reduced supply – Commerzbank
The European natural gas price has risen sharply since mid-June because gas flows from Russia have been reduced. The gas price could well climb further, in the view of strategists at Commerzbank.
Strike in the Norwegian oil and gas industry
“Annual maintenance of the Nord Stream pipeline is scheduled to begin at the start of next week. During this time, gas flows will come to a complete standstill for ten days. It is doubtful whether Russia will supply more gas via the other pipelines instead. The concern is rather that gas shipments may be even further reduced or not even resumed at all following the maintenance work. This would make it virtually impossible to replenish European natural gas stocks for next winter and would necessitate further-reaching political measures and cuts to gas consumption.”
“A decline in gas supply from Norway is looming in the near future. A strike in the oil and gas industry began there today that could paralyse around 13% of gas production, according to the Norwegian producers’ association. If the strike were to last any length of time, the already tight supply situation on the European gas market would further deteriorate, which we believe would cause the gas price to climb even further.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
