European Gas Rises Amid Uncertainty Over Hormuz

2026-08-10 01:28 By Judith Sib-at 1 min. read

European natural gas prices rose above €56 per MWh on Monday, recouping part of the losses from the previous week amid uncertainty over the normalization of shipping through the Strait of Hormuz.

Iran and Oman remained short of a final agreement over the weekend after Tehran renewed a lengthy list of demands for Washington as conditions for a full reopening of the strategic waterway, indicating any immediate relief for gas supplies could remain limited.

Although Iran indicated that a deal was close, it cautioned that this did not mean the strait would reopen imminently, while again ruling out any direct negotiations with the US.

With a deal still elusive, disruptions to LNG shipments through the key waterway are likely to persist, delaying cargoes from major exporters such as Qatar.

The ongoing delays have kept global supply balances tight, intensifying competition with Asian buyers for available cargoes and hampering Europe's winter stockpiling efforts.



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European Gas Rises Amid Uncertainty Over Hormuz
European natural gas prices rose above €56 per MWh on Monday, recouping part of the losses from the previous week amid uncertainty over the normalization of shipping through the Strait of Hormuz. Iran and Oman remained short of a final agreement over the weekend after Tehran renewed a lengthy list of demands for Washington as conditions for a full reopening of the strategic waterway, indicating any immediate relief for gas supplies could remain limited. Although Iran indicated that a deal was close, it cautioned that this did not mean the strait would reopen imminently, while again ruling out any direct negotiations with the US. With a deal still elusive, disruptions to LNG shipments through the key waterway are likely to persist, delaying cargoes from major exporters such as Qatar. The ongoing delays have kept global supply balances tight, intensifying competition with Asian buyers for available cargoes and hampering Europe's winter stockpiling efforts.
2026-08-10
European Natural Gas Extends Advance
European natural gas prices climbed above €57 per MWh on Friday, extending gains from the previous session as renewed tensions in the Strait of Hormuz raised uncertainty over the resumption of LNG flows from the Persian Gulf. Iranian state media reported that naval forces had conducted an operation against "hostile targets" near the strait following explosions heard on Qeshm Island. Tehran is also reportedly seeking to restrict US and Israeli vessels from transiting the waterway under a proposed agreement with Oman, while demanding compensation from countries it considers hostile before allowing passage. European gas prices recovered most of the losses recorded earlier in the week following the reports. Continued disruptions to LNG shipments from key exporters such as Qatar have kept global supply balances tight, intensifying competition with Asian buyers for available cargoes and hampering Europe's winter stockpiling efforts.
2026-08-07
European Natural Gas Rises from 3-Week Low
European natural gas prices rose above €53 per MWh on Thursday after falling to a three-week low in the previous session, amid persistent concerns over the outlook for gas supplies. Although risk premiums eased after Iran announced it had reached an agreement with Oman on a proposed shipping route through the Strait of Hormuz, LNG supply risks remained elevated. Gas shipments through the key waterway continue to face significant disruptions, delaying cargoes from major exporters such as Qatar. These delays have complicated Europe's winter stockpiling efforts, while strong competition from Asian buyers has further tightened LNG availability. At the same time, unusually hot weather across central and southern Europe has added to market pressures by increasing electricity demand for air conditioning. EU gas storage facilities are currently just under 58% full, the lowest seasonal level in nearly two decades for this time of year.
2026-08-06