Natural Gas market movers: Seasonality goes against
- Former US President Donald Trump and current US President Joe Biden both secured enough votes to be the candidates and will have a rematch after four years in November to see who will become the next President. This will be important in terms of Trump’s former pledges for the US to become energy independent.
- Russian Gas exports are set to rise by 13% this summer, though US sanctions are expected to limit this projection.
- Spreads between summer and winter contracts on the Dutch Gas market show a discount for the summer contracts, making it less expensive for Europe to restock ahead of the next heating season. This means less price pressure for European households.
- A tail risk is still present in the Middle East with still no breakthrough in ceasefire talks between Gaza and Israel.
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