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European gas futures declined for a third consecutive week as the market showed limited reaction to the Israel-Hamas war. Flows from Israel to Egypt, which supply LNG to Europe, were a concern but did not drive a sustained rally.
Limited geopolitical premium means European gas prices are tracking storage and weather rather than conflict risk, leaving energy-linked feed costs largely unchanged.
bloomberg.comPriscila Azevedo RochaNov 3, 2023After 15 past bearish geopolitics events, Natural Gas moved a median -1.1% over 5 sessions (40% higher; middle half -9.2% to +2.4%), and +4.7% 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.
