European Gas Prices Rebound Amid Hormuz Shipping Delays

European gas prices rebounded on Tuesday, reversing earlier losses, as persistent shipping delays through the Strait of Hormuz reminded energy traders of lingering supply risks.

The Dutch front-month contract at the TTF hub, the European benchmark, gained 1.87% to 58.58 euro per megawatt-hour (MWh) by mid-morning, while Britain's equivalent wholesale gas contract rose 1.95% to 143.77 pence per therm.

The price increase followed a brief pullback on Monday triggered by U.S. President Donald Trump's announcement of direct negotiations with Iranian officials, which brought temporary relief to broader financial markets.

However, European gas traders turned their attention back to physical supply realities, as reports confirmed that LNG carrier traffic through the Strait of Hormuz remained severely choked.