Natural gas prices surge as violence in Middle East flares again

European natural gas prices surged to a four-month high due to renewed violence near the Strait of Hormuz, with the Dutch TTF benchmark reaching €59 per megawatt-hour. The price increase follows U.S. strikes against Iran, Iranian retaliation, and concerns over disrupted energy supplies exacerbated by depleted European reserves and high Asian summer demand. Analysts warn that geopolitical instability in the region is becoming a structural risk for energy markets.