EL7.AI
CommoditiesMedium•5 November 2026•
1 min read

European Gas Prices Rise 1.6% as Traders Weigh US-Iran Geopolitical Tensions

Key Facts

1European natural gas futures at the Dutch TTF hub rose 1.6% to €89.52 per megawatt-hour.
2The increase follows three consecutive days of declines where prices fell by more than 15%.
3Traders are monitoring signals regarding the conflict between the US and Iran and the potential restoration of shipping through the Strait of Hormuz.

European natural gas futures at the Dutch TTF hub rose 1.6% to reach €89.52 per megawatt-hour. Fakti.bg reported that this rebound follows three consecutive days of declines during which prices fell by more than 15%.

Traders are monitoring signals regarding the conflict between the United States and Iran and the potential restoration of shipping through the Strait of Hormuz. The war has led to a nearly one-fifth decline in global liquefied natural gas exports, while EU storage facilities are currently 74% full, trailing the five-year average of 90%.

On the economic front, data released on November 5, 2026, showed US Initial Jobless Claims fell to 189,000, coming in below the forecasted 196,000, highlighting labor market resilience as geopolitical tensions continue to impact global energy markets.