European gas prices have remained close to the high level for more than three years, and traders are weighing the prospects for European gas supply under the risk of escalating Middle East conflict. Benchmark futures fluctuated around €78 per megawatt hour after a cumulative increase of 10% over the first four trading days. Iran says it is ready for a more intense war. The conflict has disrupted about one-fifth of the world's liquefied natural gas transportation. US President Donald Trump said the conflict may end after the November midterm elections. A new round of fighting in the Middle East, combined with increased attacks on energy infrastructure between Russia and Ukraine, has heightened market concerns about supply. Although gas prices in Europe are far from reaching their peak during the 2022 energy crisis, they have more than doubled from pre-war levels. As winter approaches, further pressure is being placed on the European economy.

European gas prices have remained close to the high level for more than three years, and traders are weighing the prospects for European gas supply under the risk of escalating Middle East conflict. Benchmark futures fluctuated around €78 per megawatt hour after a cumulative increase of 10% over the first four trading days. Iran says it is ready for a more intense war. The conflict has disrupted about one-fifth of the world's liquefied natural gas transportation. US President Donald Trump said the conflict may end after the November midterm elections. A new round of fighting in the Middle East, combined with increased attacks on energy infrastructure between Russia and Ukraine, has heightened market concerns about supply. Although gas prices in Europe are far from reaching their peak during the 2022 energy crisis, they have more than doubled from pre-war levels. As winter approaches, further pressure is being placed on the European economy.