European natural gas prices have climbed approximately 25% so far in July, driven by renewed attacks on tankers in the waters surrounding the Strait of Hormuz.
The escalation in Middle Eastern tensions has reignited fears of a prolonged supply disruption, pushing energy markets to price in a tighter supply outlook for the remainder of the year.
The volatility reflects the market's sensitivity to route exposure in one of the world's most critical energy chokepoints.
As shipping risk intensifies, traders are adjusting positions to account for potential delays and rerouting costs.
The price surge underscores the fragility of global energy flows when geopolitical friction directly targets maritime infrastructure.
Analysts cited in reports suggest that export volumes may not return to normal levels until October, indicating a multi-month period of elevated risk.