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Dutch and British wholesale gas prices rose on Thursday morning after fresh delays and rescheduling of outages at Norwegian gas infrastructure. The Dutch October contract gained 1.65 euros to 41.10 euros/MWh.
Norwegian supply is Europe's largest gas source, so extended outages tighten European gas and can lift energy costs for feed processors and fertilizer producers reliant on gas.
reuters.comSep 28, 2023After 155 past bullish macro events, Natural Gas moved a median +0.1% over 5 sessions (51% higher; middle half -4.0% to +7.1%), and +2.0% 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.
Delays at Norwegian gas infrastructure tightened European supply and lifted gas prices days before the move, which supports a sentiment spillover to natural gas broadly.
