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2026-05-26 15:43:58
[European Gas Prices Rise After US Attack on Iranian Ships, Increased Uncertainty About Supply Outlook] (1) The US attack on Iranian ships in the Strait of Hormuz has added uncertainty to the prospects for the reopening of a key shipping route for global energy supply, causing European gas prices to rise. (2) Benchmark futures rose as much as 5% after a sharp drop the previous day; despite a gradual recovery in trading volume after the holidays in Europe and the US, prices remained highly volatile. (3) A prolonged disruption to the Strait of Hormuz could lead to a tightening of the European gas market. Currently, the fill rate of European gas storage facilities is only slightly above 38%, far below the five-year average of 52% for the same period in previous years.
