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Benchmark European gas prices climbed to €75/MWh, more than double a year earlier and the highest since late 2022. The rally follows the closure of the Strait of Hormuz, which has choked off roughly a fifth of global LNG supply.
Europe and Asia are competing fiercely for cargoes after a hot Asian summer.
Sustained high gas prices raise energy costs for European feed and grain processing and tighten the LNG market globally. Elevated input costs support higher prices across the energy-linked feed chain.
reuters.comRon BoussoSep 8, 2026After 136 past bullish geopolitics events, Natural Gas moved a median +2.7% over 5 sessions (63% higher; middle half -1.8% to +8.8%), and +4.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
