European natural gas prices rose to €49.8 per MWh on Thursday, their highest level in a month, after gaining 5.1% in the previous session. The advance reflects mounting worries that renewed tensions between the United States and Iran could disrupt LNG shipments from the Persian Gulf.
The latest flare-up followed additional US strikes on Iranian targets, which prompted Tehran to retaliate with missile and drone attacks on American bases across the region. The confrontation escalated further after Iranian actions against vessels in the Strait of Hormuz, leading Washington to reinstate sanctions on Iranian oil exports.
Markets are increasingly focused on the risk of constrained energy flows through this strategic chokepoint, which accounts for roughly one-fifth of global oil and LNG trade. Any sustained disruption could hinder Europe’s efforts to rebuild gas inventories ahead of the winter demand season, adding upward pressure on prices.
