Markets worried LNG supply disruptions could persist into winter after US
President Trump rejected an Iran ceasefire proposal, pushing European gas higher
on Monday. In European morning trade the Dutch TTF benchmark rose 2.4% to
€73.63/MWh. ANZ analysts said Norwegian pipeline flows have fallen for
maintenance and LNG shipments via the Strait of Hormuz remain subdued,
tightening the market. Rising Asian competition for cargoes could further strain
supplies ahead of winter demand and increase vulnerability to additional shocks.
EU gas storage is around 70%.
