European TTF gas price hits 79 EUR/MWh, highest since late 2022, on US-Iran tensions

Dutch TTF gas futures rose to 79.1 EUR/MWh, the highest since the 2022 energy crisis, driven by renewed US-Iran tensions over the Strait of Hormuz. The price remains far below the 300+ EUR/MWh peak of late 2022, but the spike signals rising supply risk for European LNG imports. Uncertainty centers on whether tensions escalate to disrupt tanker traffic or if diplomatic channels ease the pressure.