European Natural Gas Prices Jump on Hormuz Escalation
Interference Could Trigger Further Oil and Gas Disruptions Artificial intelligence is transforming business,… What I Cover Tsvetana Paraskova is an energy and commodities journalist who has contributed to Oilprice.com for nearly a decade, covering global energy markets, commodities,… Europe’s benchmark natural gas prices opened 3% higher on Monday following the weekend escalation over the Strait of Hormuz which threatens LNG shipments out of the Middle East again.
The August 2026 contract of theDutch TTF Natural Gas Futuresjumped by 3.35% to $59.51 (50.43 euros) per megawatt-hour (MWh) as of 6:15 a.m.
Amsterdam time, rebounding to above the 50-euro threshold from a decline on Friday.
This weekend ofreignited tensionsbetween the U.S.
and Iran, centered on the Strait of Hormuz and its navigability, led to a surge in crude oil and European natural gas prices as traffic once again slowed to a trickle and Qatar announced a halt to all maritime activities.
The LNG exports out of the Middle East had juststarted to recoveras Qatar moved to boost production and shipments following the mid-June memorandum of understanding that the U.S.
But this weekend’s renewed hostilities put an abrupt end to the recovery after the intensified tension prompted Qatar to take extraordinary measures to protect its ships.
“Qatar’s Transport Ministry issued an urgent advisory urging all maritime vessels to temporarily cease sailing and engaging in maritime activity until further notice,” maritime intelligence firm Windward said in anoteon Sunday.
“This is the first blanket suspension of maritime activity by a Gulf state since the conflict began, with direct implications for LNG export flows from Ras Laffan,” Windward added.
A renewed disruption of Qatar’s LNG exports could tighten the global market just as Europe is scrambling for supply to refill gas storage sites ahead of the next winter.
Europe’s gas market remains exposed to the gas price volatility in the refilling season, whichcould prove more difficultand much more expensive to complete ahead of the next winter, as Asia now attracts the bulk of spot LNG supply.
Oil and LNG Tankers Go Dark Again as Hormuz Crisis Deepens Iran Warns U.S.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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