Bets Israel Gas Dispute May End Send Delek Group to 6-Month High
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Delek Group Ltd. shares rose to the highest level since December as investors discerned an end to months of regulatory uncertainty that halted development of Israel’s offshore natural gas fields.
The company’s shares jumped after Yuval Steinitz, Minister for National Infrastructures, Energy and Water resources, told Army Radio that the Israeli government wants to reach an agreement with exploration companies on a natural gas policy framework as soon as possible. Prime Minister Benjamin Netanyahu also defended the government’s plan for gas in parliament.