FX.co ★ EU Gas Prices Rise on New US-Iran Attacks

European natural gas prices climbed to about €49.4 per MWh on Monday, recovering part of the previous session’s losses as renewed exchanges of attacks between the US and Iran intensified concerns over shipments through the Strait of Hormuz. Over the weekend, Iran widened its strikes to include targets in Qatar and the UAE, while the US launched additional attacks on Iranian positions. President Donald Trump said the strait remains open to commercial traffic, even though Iran had earlier declared the waterway closed after a vessel using an unauthorized route was struck by a warning shot. Market participants remain highly vigilant, as any prolonged escalation or direct damage to LNG export infrastructure in the Gulf could further complicate Europe’s efforts to rebuild gas storage ahead of the winter heating season.