Wholesale energy prices climb  5% over Middle East crisis

Egypt is weighing the impact on its plans for liquefied natural gas exports after a cargo was shipped to Europe last week.

European wholesale gas climbed as much as 5% after Israel ordered Chevron to halt operations at a major gas field, potentially limiting supplies from the eastern Mediterranean region.

Israel’s gas shipments to Egypt fell by 20% as safety concerns prompted the shutdown of a key offshore field, threatening onward deliveries to Europe.