Bullish
Natural gas prices surge to €59/MWh amid Middle East tensions
Renewed violence in the Middle East, particularly around the Strait of Hormuz, has led to a significant increase in European natural gas prices, reaching €59 per megawatt-hour. This surge is driven by concerns over disrupted supply routes and heightened geopolitical risks.
Key points
- European natural gas prices hit €59/MWh, the highest since mid-March, due to Middle East unrest.
- Bank of America raises natural gas forecast to $3.80/MMBtu, citing tight supply balances.
- Energean PLC commissions second oil train, boosting Brent-linked liquid output.
- Adnoc invests $6.2 billion in Umm Shaif gas cap, aiming for 600 million scfd by 2030.
Sources
- EU natural gas prices surge as Middle East violence flares againE&E News by POLITICO · July 22, 2026
- Bank of America raises natural gas forecast on supply concernsInvesting.com · July 22, 2026
- REG - Energean PLC - Second Oil Train Boosts Brent-Linked Liquid OutputTradingView News · July 22, 2026
- Adnoc unveils $6.2 billion investment in Umm Shaif gas cap as it accelerates gas export strategyThe National · July 21, 2026
AI-generated from public news sources. Not financial advice.
