Qatar's Kaabi: US to feel the pressure of high gas prices soon

"High gas prices are already pulling on the US and it is going to feel the pressure soon," Saad al-Kaabi, Qatari minister of state for energy, said on Monday, as reported by Reuters.

Additional takeaways

"Customers are already feeling the pressure of high gas prices because they will pay more for electricity."

"High gas prices will ease off slightly as some plants come back up and with the Russian pledge to supply more gas into Europe."

"Qatar will not expedite the timeline of north field expansion to meet high gas demand."

"The lesson from high gas prices is there should be more long-term supply deals."

" Qatar Energy has no plans to offer its assets up to investors, we have plenty of cash."

Market reaction

These comments don't seem to be having a significant impact on market sentiment. As of writing, the S&P Futures were down 0.27% on a daily basis.