European natural gas prices have surged to 60 euros per megawatt-hour, marking the highest level in several months.
The benchmark TTF contract in Amsterdam has now posted gains for six consecutive trading sessions, reflecting intensifying market anxiety over supply security.
The move pushes gas prices well above the $700 per 1,000 cubic meters threshold seen earlier in the year, signaling a sustained shift in market sentiment.
Brokers note that the rally is being driven by concerns that the ongoing conflict between the United States and Iran is disrupting critical energy flows into Europe.
The price spike underscores the vulnerability of European energy markets to geopolitical shocks in the Middle East.
With tensions escalating, traders are pricing in a higher risk premium for supply disruptions, particularly regarding liquefied natural gas (LNG) shipments that may be rerouted or delayed due to shipping risks in contested waters.
The move pushes gas prices well above the $700 per 1,000 cubic meters threshold seen earlier in the year, signaling a sustained shift in market sentiment.