finance
European Natural Gas Prices Rise 3 Percent on Hormuz Tensions
Europe’s benchmark natural gas prices opened 3% higher Monday after renewed U.S.-Iran tensions over the Strait of Hormuz prompted Qatar to suspend maritime activity. The August 2026 Dutch TTF contract rebounded above 50 euros per megawatt-hour.
Jul 13, 3:45 AM·1m read1 source
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Europe’s benchmark natural gas prices opened 3% higher on Monday, July 13, 2026, after tensions between the U.S. and Iran over the Strait of Hormuz reignited over the weekend of July 11–12. The August 2026 contract of the Dutch TTF Natural Gas Futures jumped 3.35% to $59.51 (50.43 euros) per megawatt-hour as of 6:15 a.m.
Amsterdam time, rebounding above the 50-euro threshold after a decline on Friday. The weekend escalation led Qatar to announce a halt to all maritime activities. Qatar’s Transport Ministry issued an urgent advisory urging vessels to cease sailing and engaging in maritime activity until further notice.
OilPrice.com reported that the advisory marks the first blanket suspension of maritime activity by a Gulf state since the conflict began and carries direct implications for LNG export flows from Ras Laffan. LNG exports out of the Middle East had begun to recover after a mid-June 2026 memorandum of understanding between the U.S. and Qatar.
The renewed hostilities ended that recovery and raised the prospect of tighter global supply as Europe seeks to refill storage ahead of winter.
