European Union natural gas storage levels have hit their lowest point in five years, following a record-hot summer that drove increased air conditioning consumption. The United States is preventing an even more dire energy scenario through its LNG exports, while Europe remains dependent on Russian gas shipped by vessel despite sanctions. HSBC raised its European natural gas price forecast by 34% for the rest of 2024 and by 40% for next year, upgrading both BP and TotalEnergies to buy. U.S. LNG exporters Cheniere Energy and Venture Global are highlighted as potential beneficiaries of this energy crunch.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
