European Gas Prices Rise as U.s.-iran Tensions Add to Supply Concerns Ahead of Winter

Dow Jones15:35

0735 GMT - European natural-gas prices climb above 48 euros a megawatt-hour as the latest escalation between the U.S. and Iran heightens concerns over fuel supplies ahead of Europe's heating season. In early trading, the benchmark Dutch TTF contract rises 2.9% to 48.12 euros a megawatt-hour, up more than 10% on the week. "The European gas market continues to look tight as we move through the injection season," Ewa Manthey and Warren Patterson from ING say. Storage across the European Union is currently 50% full, well below the five-year average of 66%. Meanwhile, Europe's LNG imports have declined as Asian buyers have increasingly turned to the spot market amid supply disruptions in the Persian Gulf, ING analysts say. (giulia.petroni@wsj.com)

(END) Dow Jones Newswires

July 08, 2026 03:35 ET (07:35 GMT)

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