April 13, 2026
European natural gas prices surged sharply after escalating geopolitical tensions in the Middle East, particularly following threats of a blockade of the Strait of Hormuz.
Benchmark gas prices in Europe increased by more than 8%, reflecting growing concerns over potential supply disruptions in global energy markets.
Prices Jump at Key Trading Hub
At the Netherlands-based Title Transfer Facility (TTF), Europe’s main gas trading hub, May futures rose from €43.6 per megawatt-hour at the end of last week to around €47.3 per megawatt-hour, marking a significant daily increase.
Blockade Threat Sparks Market Anxiety
The price spike came after statements by Donald Trump suggesting a potential naval blockade targeting ships passing through the Strait of Hormuz, a critical global energy corridor.
The remarks followed unsuccessful negotiations between the United States and Iran, which heightened fears that tensions in the region could escalate again after a brief period of optimism.
Critical Energy Route at Risk
The Strait of Hormuz is one of the world’s most important energy transit chokepoints, handling roughly 20% of global liquefied natural gas (LNG) trade. Any disruption in this route raises immediate concerns about supply shortages, especially for Europe.
Recent conflicts involving the United States, Israel, and Iran have already impacted production, with major Gulf producers such as Qatar and the United Arab Emirates temporarily halting some gas output.
Uncertainty Drives Volatility
Markets had previously shown signs of easing on expectations that a ceasefire would reopen the strait and stabilize flows. However, renewed tensions and blockade threats have reversed that trend, pushing prices higher once again.
Analysts warn that continued instability in the region could intensify competition for LNG supplies between Europe and Asia, especially ahead of the winter season.
Source: Patronlar Dünyası/ Prepared by: İlayda Gök