European Gas Futures Surge to 2023 High as US Strikes Iran
· Business · Bloomberg, MarketWatch
European natural gas benchmark futures climbed to their highest level since January 2023 after the US launched a fresh wave of strikes against Iran. The escalation in West Asia has revived fears of supply disruption through the Strait of Hormuz, a critical chokepoint for global LNG shipments. TTF futures on the Dutch hub led the rally, with traders pricing in heightened geopolitical risk premium. The move comes as European inventories head into winter and the continent remains heavily reliant on seaborne gas imports.
Why it matters
India imports the bulk of its crude and a significant share of its LNG needs from the Gulf region, so any disruption to Hormuz transit or LNG pricing directly raises fuel and feedstock costs for Indian power, fertilizer, and city-gas distributors. A sustained European gas spike will also pull cargoes away from Asian buyers, tightening supply and lifting India's import bill.
Read the original report — Bloomberg
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