FX.co ★ TTF Prices Rise as US Launches New Strikes on Iran

European natural gas prices climbed to around €49.6 per MWh, recovering part of the previous session’s losses after the US launched strikes on Iran in response to a downed helicopter. President Donald Trump had earlier accused Tehran of shooting down the aircraft, which he said was conducting patrol operations over the Strait of Hormuz, and vowed to retaliate. The latest US strikes have once again cast doubt on the durability of the ceasefire and the progress of peace talks, heightening the risk of prolonged disruptions to traffic through the Strait of Hormuz, where shipping is already constrained by blockades imposed by both sides. This follows an agreement between Israel and Iran to halt mutual attacks after a recent flare-up in hostilities. In Europe, attention remains firmly on rebuilding gas storage ahead of next winter, as the ongoing conflict tightens global supply and intensifies competition for LNG cargoes.