GAZB - Suez Canal snafu seen as 'major obstacle' to LNG market

While crude oil reverses from yesterday's rally driven by the Suez Canal blockage, natural gas futures (NG1:COM) finished higher as analysts say the incident likely will have a more significant impact on the market for liquefied natural gas.Comex April natural gas closed +2.1% to $2.57/MMBtu, after inching 0.4% higher yesterday.Natural gas focused stocks enjoy strong gains: [[AR]] +8.4%, [[EQT]] +5.9%, [[RRC]] +5.8%, [[CNX]] +5.7%, [[SWN]] +4.5%, [[COG]] +2.7%.ETFs: [[UNG]], [[UGAZF]], [[DGAZ]], [[BOIL]], [[FCG]], [[KOLD]], [[UNL]], [[GAZ]], [[GAZB]]"It's not often that LNG vessel traffic is disrupted, and the current blockade at the Suez Canal can be considered as a major obstacle for LNG flows to Europe," Rystad Energy's Carlos Torres Diaz says, as the blockade has "great implications on global trade, including LNG, as shipments to Europe from one of the world's largest LNG producers - Qatar - essentially all pass through there."~260 LNG cargoes were sent from Qatar to Europe

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Suez Canal snafu seen as 'major obstacle' to LNG market