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Dutch front-month gas futures closed 5.2% higher at €36.01/MWh on June 3 after flows from Norway slumped. The contract had earlier surged as much as 13%, its biggest intraday jump since December.
The Norwegian supply loss shows the risk of supplier concentration and pushes European gas prices higher, supporting demand for alternative LNG supply. Its effect on feed grain prices is limited.
bloomberg.comAnna Shiryaevskaya, Priscila Azevedo RochaJun 3, 2024After 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.
