Bloomberg News: European natural gas prices surged 30% due to the situation in the Middle East
This price increase is related to the obstruction of the Strait of Hormuz and the shutdown of part of Qatar's liquefied natural gas (LNG) production capacity, which is a major global LNG exporter. Due to the conflict, the supply of natural gas by sea is under threat; and Europe has just passed the winter, with its natural gas reserves already depleted, so it will have to purchase large amounts of LNG this summer.
Analysts warned that the supply disruption may last for several months, further intensifying pressure on the energy market and pushing up inflation.
Previously, the media reported that the UK was approaching a natural gas shortage, with domestic reserves only sufficient to last about two days. The Iranian blockade of key maritime routes, as well as the shutdown of the Ras Laffan port, the largest gas complex in Qatar, after an attack, has further worsened the situation.
Original article: toutiao.com/article/1859181935419404/
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