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European Gas Futures Soar as Iran Closes Strait of Hormuz Again

Stephen Stapczynski

1 min read

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⚡ Quantum Brief

European natural gas futures surged 11% to €43 per megawatt-hour on April 19, 2026, after Iran again blocked the Strait of Hormuz, disrupting critical Persian Gulf energy flows. The closure reversed Friday’s price declines, when Iran had briefly reopened the waterway to commercial traffic, creating market volatility and renewed supply chain fears. The Strait of Hormuz, a chokepoint for 20% of global oil and liquefied natural gas, faces recurring geopolitical tensions, escalating energy security risks for Europe. Traders reacted swiftly in early Asian markets, reflecting heightened anxiety over prolonged disruptions to Middle Eastern energy exports amid fragile global supply stability. The move underscores Iran’s leverage over energy markets, exacerbating Europe’s reliance on volatile import routes as winter demand looms.

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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000European natural gas futures rose as Iran again closed the Strait of Hormuz, adding fears that the flow of energy from the Persian Gulf will remain choked.Benchmark futures advanced as much as 11% to €43 a megawatt-hour in early Asian trading on Monday. That wiped out the declines from Friday after Iran had initially said the waterway was open to commercial traffic.

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Source: Bloomberg

Website: https://feeds.bloomberg.com/markets/news.rss

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