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Middle East Conflict Drives European Gas Prices Higher Amid Supply Risks

Guavy AI Editorial Team
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Natural Gas
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European natural gas prices have stabilized around €61 per MWh after rising sharply in the previous session. The price surge is attributed to increased risks to Europe's winter supply amid renewed fighting in the Middle East.

Saudi Arabia and the United States carried out joint strikes on Iran-backed militias in Iraq, prompting President Donald Trump to pledge a forceful response after Iran attacked US bases in Jordan.

The conflict has disrupted Qatari LNG exports, with QatarEnergy extending its force majeure for European buyers through the end of September. This move further tightens global gas supplies and intensifies competition with Asia for available cargoes.

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