Photo: Michael Sohn/AP
As of May 14, futures on the benchmark Dutch TTF hub with near-term delivery were up 1.0% at €47.370 per megawatt hour. The British contract added 1.1% to 116.25 pence per therm, according to investing.com.
Market participants were following the outcome of the meeting between US President Donald Trump and Chinese President Xi Jinping in Beijing. Trump reportedly called Xi a “friend” and said the talks went “well” for both countries, and invited the Chinese leader to visit the US in September. Details of the discussions were not disclosed.
According to the source, investors’ attention is focused on possible signals on key issues – trade, Taiwan and the development of artificial intelligence. Also discussed were risks related to the conflict over Iran, which has affected energy flows and oil supplies to Asia in recent months. A number of analysts have suggested that Trump may try to persuade China – a major importer of Iranian oil – to act as a guarantor of a long-term peace deal. But it remains unclear whether Beijing would be willing to take on such a role.
