Gas prices in the UK and across Europe have surged sharply after major strikes on energy infrastructure in Qatar and Iran, triggering fears of a global supply shock.
European gas prices jumped between 24 percent and 35 percent, while UK prices rose by around 23–25 percent in early trading following the attacks, according to market data and reports.
The spike came after escalating conflict in the Middle East, where Iran launched retaliatory strikes on key Gulf energy facilities, including Qatar’s Ras Laffan LNG hub, one of the world’s largest gas export centers.
The disruption has hit global supply chains hard. Qatar is a major supplier of liquefied natural gas to Europe, and damage to its infrastructure has raised concerns about shortages, especially ahead of future winter demand.
Oil markets have also reacted strongly. Brent crude prices climbed above $114–$116 per barrel, adding further pressure to energy costs and inflation across Europe and beyond.
Analysts warn the situation could worsen if tensions continue, particularly with risks to shipping routes like the Strait of Hormuz, through which a significant share of global energy supplies passes.
For households, the impact may soon be felt in rising bills. UK energy providers have already warned that costs could increase significantly in the coming months if wholesale prices remain high.
The situation remains highly volatile, with governments and energy markets closely monitoring further developments in the region.
