Gas prices soar as US-Iran conflict disrupts LNG exports

The Dutch TTF natural gas price surpassed €70 per megawatt-hour due to renewed fighting between the US and Iran. This escalation raised concerns about delays in LNG exports from the Persian Gulf, critical for Europe as it prepares for winter. EU gas storage facilities are currently only 64.7% full, below historical averages, leading to fears that the Netherlands and Germany may miss their gas-storage targets. Analysts warn that prolonged disruptions could lead to increased competition for LNG, driving prices higher.