Asks if the biggest fear is the Strait of Hormuz closing or Iran targeting energy infrastructure.
Francine Lacqua
Anthony DePau
The Strait of Hormuz is effectively closed; ships are not transiting, causing a backlog and risk to facilities. If damaged, they can't quickly resupply the market.
Asks if Europe is the region with the most to lose, given the 34% spike in European gas.
Francine Lacqua
Anthony DePau
Europe depends on LNG imports. The Qatar shutdown brings up prices everywhere as Asian buyers draw on US cargoes. The major price reaction on European gas is due to capacity being taken offline.