Europe’s benchmark gas prices rise as Strait of Hormuz risks disrupt Middle East LNG shipments amid U.S.-Iran escalation.
Dutch TTF natural gas futures for August 2026 climbed 3.35% to $59.51 per megawatt-hour in early Monday trading, reversing Friday’s decline. The move followed renewed geopolitical tensions over the Strait of Hormuz, a critical chokepoint for LNG exports from the Middle East.
Prices had dipped below 50 euros on Friday but rebounded above the threshold as concerns over shipment disruptions resurfaced. The Strait of Hormuz, a key route for global energy supplies, has been a flashpoint in U.S.-Iran relations, with recent escalations raising supply risks.
No immediate market reaction beyond the price move was reported, though traders are monitoring developments closely given the region’s role in global energy flows.