6/9, 2:55 PM (Source: TeleTrader)
more TeleTrader news

F GAS-5.83%

Chart for: F GAS 10/23

European gas prices rally on supply disruptions

European gas prices for front month deliveries surged on Friday due to the disruptions of the commodity supply. The upward movement of prices was likely prompted by the Norway's decision to postpone the restart of the the production at the Hammerfest liquefied natural gas terminal by another six days following the gas leak at the facility.

Meanwhile, Britain unveiled adjustments to the windfall tax on oil and gas companies, noting that the the tax rate for companies in the energy sector could be removed if the prices of oil and gas continue to decline.

For July contracts, UK natural gas futures skyrocketed 12.01% to go for £71 per therm at 2:48 pm CET. For the same month contracts, Dutch TTF natural gas soared 10.23% to €29.70 per megawatt hour.

Baha Breaking News (BBN) / AB