Natural gas prices in Europe have surpassed $600 per thousand cubic meters for the first time since February 2025, following significant geopolitical developments in the Middle East.
Operative Information Center-OMM reports that market data confirms a sharp upward trajectory in energy costs. This surge is directly linked to statements from the Islamic Revolutionary Guard Corps (IRGC) regarding the closure of the Strait of Hormuz, a critical maritime chokepoint for global energy supplies.
On the Dutch TTF hub, the price for April futures rose to approximately $630 per thousand cubic meters. Since the start of the trading day, price quotes have seen a dramatic increase of 17%. The Strait of Hormuz is vital for the transit of liquefied natural gas (LNG) and oil, with roughly one-fifth of the world's total consumption passing through this narrow waterway between Oman and Iran. Any disruption to this route typically triggers immediate volatility in global commodity markets, particularly affecting European energy security as the continent continues to diversify its supply chains.
