European natural gas prices have spiked more than 11% since Tuesday, reaching 49 euros per megawatt-hour (MWh), following reports of an attack on a Qatari liquefied natural gas (LNG) tanker.
The vessel caught fire after the incident, raising immediate concerns about the safety of maritime energy routes and the reliability of LNG deliveries to Europe.
Handelsblatt reports that a second tanker was also involved in an incident, compounding fears of a broader disruption to supply chains.
The simultaneous nature of the events has intensified market anxiety, with traders reacting swiftly to the potential loss of cargo and the risk of further attacks on shipping infrastructure.
The price surge underscores the vulnerability of Europe's gas market, which remains sensitive to geopolitical shocks and supply interruptions.
With gas prices already climbing to levels that are straining household affordability, any disruption to LNG flows could exacerbate cost pressures for consumers and businesses alike.