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Egypt is seeking about 17 LNG cargoes for its Ain Sukhna floating terminal plus three for Aqaba, Jordan, for delivery from October to December, a rare winter purchase. The tender adds a new buyer on Europe's doorstep.
European gas prices rose as much as 4% after the report.
A new winter buyer competing for LNG cargoes tightens global supply and supports gas prices, which raises energy and fertilizer costs for feed producers.
gcaptain.comBloombergSep 6, 2024After 59 past bullish trade events, Natural Gas moved a median +1.3% over 5 sessions (61% higher; middle half -2.7% to +10.6%), and +8.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
