Natural gas prices in Europe have increased rapidly by around 30% as the war in the Middle East disrupts global energy supplies and raises fears of further shortages, according to market data reported by The Wall Street Journal
The increase has been driven by concerns that the conflict involving Iran, Israel and the United States could interrupt key shipping routes and energy infrastructure across the region.
Much of the world’s oil and liquefied natural gas passes through the Strait of Hormuz, making the route critical for global energy markets.
Energy traders say the conflict has already slowed tanker traffic and increased insurance costs for ships operating in the Gulf, creating uncertainty over future deliveries.
Europe, which relies heavily on imported liquefied natural gas, is particularly vulnerable to disruptions in supply.
Analysts warn that continued fighting could push prices even higher and increase inflation pressures across Europe and other regions that depend on Middle Eastern energy exports. Markets remain volatile as governments monitor the conflict and consider emergency measures to stabilize supply.