Daily Market Updates: Europe’s natural gas prices surge amid Strait of Hormuz LNG crunch

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Europe’s natural gas prices surge amid Strait of Hormuz LNG crunch

The outage is linked to Iran war-related disruptions that have trapped about a fifth of global liquefied natural gas supply behind the Strait of Hormuz.

Reported · Written up by our desk · Energy

Europe’s natural gas prices have surged sharply after a war in Iran trapped a fifth of the world’s liquefied natural gas supply behind the Strait of Hormuz, according to OilPrice.

The resulting energy-price spike is pressuring households and industry as European governments face higher energy bills and cost increases.

OilPrice also ties the recent rise in natural gas to upward movement in other fuel prices, noting that gasoline and diesel have climbed as well.

The outlet says the run-up in energy prices is contributing to higher inflation in the region.

Latest closeNat gas $3.135 ▼1.9%|Gasoline (RBOB) $3.159 ▼6.9%

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OilPriceEurope’s Gas Crisis Deepens as Hormuz LNG Crunch Drives Prices Higher

Commodities

Europe’s natural gas prices surge amid Strait of Hormuz LNG crunch

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