European Natural Gas Prices Jump on Hormuz Escalation

Europe’s benchmark natural gas prices opened 3% higher on Monday following the weekend escalation over the Strait of Hormuz which threatens LNG shipments out of the Middle East again. The August 2026 contract of the Dutch TTF Natural Gas Futures jumped by 3.35% to $59.51 (50.43 euros) per megawatt-hour (MWh) as of 6:15 a.m. Amsterdam time, rebounding to above the 50-euro threshold from a decline on Friday. This weekend of reignited tensions between the U.S. and Iran, centered on the Strait of Hormuz and its navigability, led to…