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UK wholesale gas prices edged up after a drop in send-out from UK LNG terminals and reduced Norwegian Langeled pipeline flows. Traders said the oversupplied system would limit gains, and Middle East tensions following the US killing of an Iranian general added uncertainty.
Short-term gas price moves in Europe feed into energy costs for fertiliser and processing, but the oversupply limits upside. Geopolitical risk in the Middle East is adding volatility to energy markets more broadly.
lngindustry.comWill OwenJan 7, 2020Not enough comparable past events yet for a historical read.
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.
