European natural gas prices climbed higher on November 11, 2026, as traders reacted to ongoing uncertainty surrounding the Iran war and its impact on regional supply. The benchmark futures contract surpassed €85 per megawatt-hour, following a 2.7% increase in the prior session.
Efforts to resolve the conflict in Iran have stalled, while attacks on tankers in the Strait of Hormuz continued this week. Iran’s state-run IRNA reported that Tehran’s top security official dismissed claims of any ongoing negotiations with the US.
The persistent tensions in the Middle East have contributed to volatility in energy markets, with traders closely monitoring developments that could affect supply routes and prices.