15.07.202601:24:12UTC+00EU Gas Advances Further

European natural gas prices climbed further to about €54.1 per MWh on Wednesday, holding at their highest level in more than three months, as escalating tensions in the Middle East stoked worries about LNG supply. President Donald Trump warned that the United States would target Iranian bridges and power infrastructure next week unless Tehran returns to the negotiating table. The warning followed a fourth consecutive day of US strikes on Iran and the reimposition of a blockade on Iranian ports. At the same time, Trump retreated from an earlier threat to levy a 20% “security” fee on ships passing through the Strait of Hormuz, indicating this would instead be replaced by investment from Gulf states into the US. Market concerns remain centered on Qatar, a major global LNG exporter, amid fears that renewed disruptions to shipments from the Ras Laffan complex could limit supplies to Europe at a critical point in the seasonal build-up of gas inventories ahead of winter.