23.03.202607:39:11UTC+00TTF Prices Rise Over 2%

European natural gas futures climbed more than 2% to above €60 per MWh on Monday, extending last week’s rally as mounting threats to energy infrastructure in the Middle East stoked concerns over more severe supply disruptions. President Trump issued a 48-hour ultimatum demanding that Iran reopen the Strait of Hormuz, warning of potential US strikes on the country’s power infrastructure, while Tehran vowed to retaliate with attacks on critical energy assets if Washington proceeded. The standoff follows a series of strikes by both sides last week on energy facilities, including Qatar’s Ras Laffan complex, the world’s largest LNG plant. At the same time, global LNG exports have fallen to a six-month low, highlighting increasingly tight supply conditions. Shipments dropped by roughly 20% to 1.1 million tons, led by sharp declines from Qatar and, to a lesser extent, the UAE. European gas prices are now close to double their pre-war levels, having surged more than 90% so far this month.