Europe · Business news · Commodities · 11 Sept 2026
Benchmark Dutch TTF gas futures climbed above €75 per megawatt-hour, the highest level since 2023, as escalating military confrontation with Iran raised the risk that LNG tankers, particularly from Qatar, could be blocked from passing through the Strait of Hormuz. British wholesale gas rose to 186 pence a therm. European storage was described as stable, but refilling had lagged previous years, leaving buyers competing with Asian importers for flexible LNG cargoes before winter. Ten-year German Bund yields reached multi-year highs.
Higher gas prices raise power prices and input costs for energy-intensive producers in chemicals (BASF, Covestro), fertilisers (Yara), steel and glass, and squeeze utilities and energy retailers that cannot pass costs on quickly. Gas producers with European sales, such as Equinor and TotalEnergies, earn more per unit sold. The rise also feeds headline inflation, which the ECB cited when it raised rates on September 10, and it pushed bond yields higher.
Reported by Investing.com via Cyprus Shipping News — “European gas prices surge to highest since 2023 on Iranian threat” ↗ on 11 Sept 2026.
Official series on 11 Sept 2026 or the last day before it, and the latest observation.
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