US-Iran Tensions Fuel European Gas Price Surge

European natural gas prices have started the week on an upward trend due to rising tensions between the US and Iran, which are fueling concerns over energy supplies.

The price of natural gas in October-dated contracts traded at the Dutch-based TTF, Europe's most liquid natural gas trading hub, closed at €71.95 per megawatt-hour on Friday.

However, the price rose 3.3% from the previous close to €74.35 per megawatt-hour by 10:42 a.m. local time (07:42 GMT) on Monday.

The escalation of tensions is raising concerns that LNG shipments from the region could face further delays, supporting gas prices.