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Bruegel reports that the Israel-Hamas war has already cut gas supplies to Israel, with Chevron's Tamar field shut and the EMG pipeline to Egypt halted. It warns the conflict could widen by weighing on Israeli gas exports.
Disruption to Eastern Mediterranean gas supply tightens Egypt's and Europe's LNG supply and supports gas prices.
bruegel.orgIgnacio García Bercero, Simone Tagliapietra, Jeromin ZettelmeyerOct 19, 2023After 136 past bullish geopolitics events, Natural Gas moved a median +2.7% over 5 sessions (63% higher; middle half -1.8% to +8.8%), and +4.0% 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.
