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European gas prices rise again amid renewed tensions over the Strait of Hormuz
European natural gas prices increased by 3.35%, reaching $59.51 per megawatt/hour, due to escalating tensions around the Strait of Hormuz and concerns over disruptions to gas shipments from the Middle East. This comes amid renewed confrontation between the United States and Iran, leading to rises in oil and gas prices, as well as Qatar halting maritime activities due to security threats to vessels. These developments are affecting LNG export flows and adding to Europe's storage challenges ahead of winter.
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