Qatar shut down liquefied natural gas production at the world’s largest export facility after it was targeted in an Iranian drone attack, sending European gas prices surging more than 50% and rattling global energy markets.
Morgan Stanley raised its price estimates for liquefied natural gas in 2023 and 2024, seeing Europe’s soaring demand for the fuel intensifying global competition for supplies.
Bullion is benefiting from the dollar’s weakness coupled with continued risk hedging, and a breach of the $2,000 mark will “fan the flames of interest.”
