With the renewed exchange of fire between the US and Iran, the market is worried that the energy transportation channel in the Strait of Hormuz will be blocked for a long time, and European gas prices have risen for the third day in a row. The European gas benchmark - Dutch futures rose 4.3% in recent months to 75.33 euros/megawatt hour on Wednesday, the highest intraday level since January 2023. The weekly increase in the October contract has exceeded 10%. Hopes for the resumption of shipping in the Strait of Hormuz are fading away. The US attacked Iran for the second day in a row, and President Trump downplayed the possibility of reaching an agreement to end the conflict, which has continued for more than six months. Within a few hours, Tehran retaliated against Jordan, Bahrain, and Kuwait, all of which had US troops stationed.

With the renewed exchange of fire between the US and Iran, the market is worried that the energy transportation channel in the Strait of Hormuz will be blocked for a long time, and European gas prices have risen for the third day in a row. The European gas benchmark - Dutch futures rose 4.3% in recent months to 75.33 euros/megawatt hour on Wednesday, the highest intraday level since January 2023. The weekly increase in the October contract has exceeded 10%. Hopes for the resumption of shipping in the Strait of Hormuz are fading away. The US attacked Iran for the second day in a row, and President Trump downplayed the possibility of reaching an agreement to end the conflict, which has continued for more than six months. Within a few hours, Tehran retaliated against Jordan, Bahrain, and Kuwait, all of which had US troops stationed.