The prize of European natural gas has risen considerably after the American attack on Iran. At the start of the trade, the trend setting TTF temporary travels jumped to EUR 42.44 per megawatt hour (MWH) and therefore up to the highest level since the beginning of April in a month.
In early trade, however, the prize again made part of the early profit. The list was the last 41.53 euros. That is still about 1.5 percent more than on Friday.
Street or hormus
A high risk is clear that Iran could try to interrupt the shipment through the Strait van Hormus, explained with raw material expert Warren Patterson from Bank ING.
The sea is a “decisive bottleneck for oil and liquid gas traffic worldwide”. According to ING expert, around 20 percent of global global trade is handled by the Hormus Street.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
