EU Gas Prices Hit 4-Month High

European natural gas prices surged 5% to above €60 per MWh on Monday, reaching their highest level in four months, amid mounting fears of further supply disruptions as attacks between the US and Iran escalated over the weekend. The US Central Command said on Sunday that it had carried out a fresh round of strikes against Iran for the ninth consecutive night, while US allies Kuwait and Bahrain reported Iranian attacks. The conflict has widened beyond military targets to include bridges, utility infrastructure, and port facilities, increasing the risk of a return to full-scale war. Shipping activity through the Strait of Hormuz has largely come to a halt, with the US enforcing a naval blockade on Iranian ports and Iran targeting vessels it says are violating its regulations. These supply risks, coupled with stronger demand for power generation, are limiting Europe’s ability to rebuild gas inventories ahead of winter.





