The European gas price has risen more than eleven percent since Tuesday to 49 euros per megawatt hour. The cause is attacks on tankers in the Strait of Hormuz.
A Qatari liquefied gas tanker was attacked, after which a fire broke out on board. Another tanker in the strait was also hit.
The USA responded with new attacks on Iran. US President Donald Trump declared the peace agreement null and void on the sidelines of the NATO summit.
Traffic through the Strait of Hormuz has nearly come to a standstill since then. On Wednesday, according to Bloomberg, only 14 tankers passed the strait in both directions.
Even before this escalation the gas price was 40 percent above the pre-war level. The Amsterdam TTF contract traded at that level on Monday.
