Commerzbank’s Norman Liebke stresses that European natural gas remains structurally tighter than Oil as Qatar LNG is cut off and US cargoes are redirected to Asia. He points to historically low storage levels, EU bans on Russian LNG and pipeline gas, and El Niño-driven Asian demand as factors that could prolong the divergence between Oil and natural gas prices.
European market strain and storage
“The situation on the European gas market is currently more strained than that on the oil market. This is indicated by recent price trends. Since the price decline in June, which was triggered by the framework agreement between the US and Iran, oil and…
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