“The oil market is very sensitive to developments with the Israel-Hamas war,” he told CNN.
Risks to natural gas supplyThe situation in Israel has also weighed heavily on the European natural gas market.
Egypt produces a lot of its own natural gas in addition to imports and processes some of it into LNG for shipping abroad.
“This has obviously created a lot of nervousness and heightened the geopolitical risk within the European gas market,” Tomas Marzec-Manser, head of gas analytics at ICIS, told CNN.
And Marzec-Manser thinks Europe’s upcoming winter will be bearish for the gas market.
Persons:
Edward Moya, ”, —, ” Moya, Brent, Price, ” Sophie Lund, Yates, Hargreaves Lansdown, Massimo Di Odoardo, Wood Mackenzie, Di Odoardo, Frederic J . Brown, ” Tomas Marzec
Organizations:
London CNN — Global, Brent, Texas, CNN, Israel Defense Forces, Hezbollah, Group, Chevron, Getty, Authorities
Locations:
Israel, Iran, Tehran, United States, Gaza, Lebanon, Saudi Arabia, Russia, Egypt, Jordan, Europe, LNG, Finland, Estonia, Kern County , California, AFP, Baltic, Germany, Ukraine