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Natural gas prices in Europe surged today, Tuesday, due to renewed fears of disruptions in liquefied natural gas supplies through the Strait of Hormuz, following reports of attacks on commercial ships near this vital shipping route. The European gas index, TTF, rose to €46.25 (approximately $52.9) per megawatt/hour, an increase of 4.3% from the previous session. This rise came after a maritime incident involving a tanker off the coast of Oman, which was hit by projectiles, along with reports of Iran launching two rockets at commercial ships in the strait, reflecting geopolitical risks that are impacting global gas prices.
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