European Gas Prices Surge After US Airstrikes on Iranian Missile Sites

Following a series of US airstrikes on Iranian missile launch sites in Khuzestan, European natural‑gas markets reacted sharply. European gas futures on the ICE exchange (ticker ICE:NG) jumped to a new high, while the European Natural Gas Index (ENGI) climbed to its strongest level since early summer. The spike reflects heightened geopolitical risk and concerns over potential supply disruptions, prompting traders to adjust their positions and re‑balance portfolios. Spot prices in key hubs such as Germany and France rose in tandem, adding pressure on power‑generation costs across the region. Market participants are closely monitoring the situation as the US‑Iran standoff continues to unfold.