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Saudi Arabia, the UAE, Egypt and others cut diplomatic and transport ties with Qatar, and a Shell cargo was rerouted from the US to Dubai. A cluster of 17 LNG tankers is now waiting off Ras Laffan.
UK gas prices rose over 4.5% after two Qatari tankers changed course.
Export-port blockades and tanker diversions tighten prompt LNG supply and push gas prices higher. Energy cost increases feed into fertilizer and processing costs for feed producers.
gcaptain.comReutersJun 8, 2017After 136 past bullish geopolitics events, NATGAS 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.
