Business · 20 July 2026
European gas prices hit four-month high after US-Iran conflict
European natural gas prices on Monday surpassed €60 a megawatt hour for a short period, following concerns about winter supply shortfalls. The surge follows the US expanding its aerial offensive and Iran retaliating with strikes on Bahrain and Kuwait. ICIS analysts cautioned that a cold winter might substantially raise the expense of fulfilling the EU's gas storage objectives.
Reported by Guardian · How we write briefs