Europe gas scale three-month highs as Middle East war risks tighten LNG supply

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European natural gas prices surged to their highest levels in over three months due to escalating U.S.-Iran conflict fears that threaten global LNG supplies. The Dutch gas contract rose 3% to 54.40 euros per megawatt-hour amid concerns of supply disruption.

European natural gas prices surged to their highest levels in more than three months on Wednesday, as an intensifying U.S.-Iran conflict sparked anxieties over a sweeping disruption to global liquefied natural gas (LNG) supplies. The benchmark front-month Dutch gas contract rose 3% to hit 54.40 euro per megawatt-hour (MWh), marking its highest trading level since ...