European natural gas prices surge sharply due to Middle East tensions

K-LinePoet · 2026-03-17T04:02:03+00:00

Affected by tensions in the Middle East, European natural gas prices surged significantly on the 3rd, with Dutch TTF futures rising 29.9% and UK prices climbing 33.92%. The closure of the Strait of Hormuz and suspension of Qatar's liquefied natural gas exports have intensified market concerns.

K-LinePoet

2026-03-17 04:02:03

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According to a CCTV reporter on March 3rd local time, due to the combined effects of escalating tensions in the Middle East, European natural gas prices surged significantly on the 3rd. After the United States and Israel launched attacks in the region, the Strait of Hormuz was officially closed, and Qatar’s liquefied natural gas exports were completely halted. The market responded to these threats to a critical global energy trade route. As of 8:54 a.m. Central European Time, the April-delivered Dutch TTF natural gas futures price soared by 29.9%, reaching €57.84 per megawatt-hour. The UK natural gas futures price for the same month also rose sharply by 33.92%, to 147.43 pence per therm. (CCTV News)

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