Gas prices in Europe have risen again!

Tensions between the United States and Iran have risen again, pushing up gas prices in Europe. Iran said it had attacked U.S.-linked vessels that passed through the Strait of Hormuz without permission. The United States, meanwhile, said it had previously struck three Iranian oil tankers. The confrontation has raised concerns in energy markets and increased risks surrounding oil and gas supplies. The main concern is that the resumption of liquefied natural gas (LNG) supplies to Europe could be delayed. Qatar has also extended its force majeure on LNG supplies to buyers in Europe and Asia through October and November. This has increased market uncertainty and kept gas prices elevated.

Europe is working to replenish its gas reserves ahead of winter. Although inventories are currently at record levels, potential disruptions to LNG supplies are making the market more vulnerable. As a result, TTF futures, Europe’s key gas benchmark, rose 2.3% to €73.58. The situation increases the risk of energy prices rising again during the winter months and further intensifies concerns over Europe’s energy security. Market participants are therefore closely monitoring developments.