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As the global gas market grapples with the Strait of Hormuz being all-but closed for nearly three months, traders are fixated on two wildcards: China and the weather. Summer forecasts are pointing to higher-than-normal temperatures across Asia, while an El Niño weather pattern could make things even hotter. That will boost air-conditioning use and strain power grids when energy prices are already elevated.
Bloomberg — Mientras el mercado mundial del gas lidia con el estrecho de Ormuz prácticamente cerrado desde hace casi tres meses, los operadores se fijan en dos comodines: China y el tiempo. Las previsiones para el verano apuntan a temperaturas más altas de lo normal en toda Asia, mientras que un patrón meteorológico de El Niño podría hacer las cosas aún más calurosas. Eso disparará el uso del aire acondicionado y tensará las redes eléctricas cuando los precios de la energía ya son elevados.
Skip to Content As the global gas market grapples with the Strait of Hormuz being all-but closed for nearly three months, traders are fixated on two wildcards: China and the weather. 8wnvut36auiefc71ki7xaich_media_dl_1.png Spark Commodities (Bloomberg) — As the global gas market grapples with the Strait of Hormuz being all-but closed for nearly three months, traders are fixated on two wildcards: China and the weather.