European gas prices reach four-month high

European gas prices have reached a four-month high amid fears that ongoing Middle East conflicts, particularly involving Iran and the US, will cause supply shortages this winter. The Dutch natural gas benchmark briefly surpassed €60 per megawatt hour, driven by concerns over delays in Qatari LNG exports and reduced shipping through the Strait of Hormuz. European gas storage levels are below 54%, increasing the likelihood of higher costs and potential government intervention to ensure supplies during a colder winter.

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