Commerzbank: European Gas Prices to Stay High Despite Hormuz Reopening
Commerzbank analyst Norman Liebke expects European gas prices to remain elevated in the near term, even if the Strait of Hormuz reopens, citing tightening supply.
Norman Liebke, a commodities analyst at Commerzbank, expects European natural gas prices to stay high in the near term. He notes that supply conditions remain tight, and even a potential reopening of the Strait of Hormuz would not be enough to immediately alleviate the upward pressure on prices.
Traders are closely watching developments in the Middle East and European storage levels. The market continues to price in risk premiums amid geopolitical uncertainty and constrained flows.
Source: FXStreet Forex News