European natural gas prices drop on uncertainty over Hormuz shipping plan
Updated
Updated · Bloomberg · May 4
European natural gas prices drop on uncertainty over Hormuz shipping plan
12 articles · Updated · Bloomberg · May 4
Benchmark futures fell as much as 2.8% after a tanker was reportedly hit by projectiles 78 miles north of Fujairah in the United Arab Emirates.
The incident cast doubt on President Donald Trump's plan to start guiding some neutral ships trapped in the Persian Gulf through the Strait of Hormuz on Monday.
Prices later trimmed losses but stayed elevated after rising over the past two weeks, as traders questioned whether the US-backed passage plan could work.
Will the US military's 'guiding' mission in the Strait of Hormuz break the energy blockade or ignite a direct confrontation?
How will neutral ships navigate between US protection and Iranian threats in the world’s most dangerous waterway?
With 20,000 seafarers trapped, can a military plan succeed where diplomacy has failed to avert this humanitarian disaster?