# European gas surges as U.S. strikes Iran's Qeshm Island

> European wholesale gas prices jumped about 4% to roughly €98.60/MWh on Tuesday after U.S. strikes on Iranian assets on Qeshm Island in the Strait of Hormuz. Iranian officials said negotiations remained far from a resolution, reversing Monday's steep losses. Brent crude rose about 1.8% to $106.61.

- Date: 2026-11-03 · published 2026-11-03T12:07:40.938Z
- Category: geopolitics · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/77518-european-gas-surges-as-u-s-strikes-iran-s-qeshm-island
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Renewed attacks near Hormuz threaten LNG and crude flows, supporting European gas and oil prices and raising feed-energy and fertiliser cost pressure. Diplomatic headlines can reverse these moves quickly.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2025-06-16 | [European oil products rise further amid fresh Israel-Iran strikes](https://feedsoft.ai/events/8386-european-oil-products-rise-further-amid-fresh-israel-iran-strikes.md) | +3.7% | -5.2% |
| BRENT | 2026-03-02 | [Diesel and Gasoline Prices Rise on Iran Strikes - TT](https://feedsoft.ai/events/8776-diesel-and-gasoline-prices-rise-on-iran-strikes-tt.md) | +31.0% | +62.6% |
| BRENT | 2025-06-13 | [Oil prices surge after Israel's strike on Iran \| CBC News](https://feedsoft.ai/events/10997-oil-prices-surge-after-israel-s-strike-on-iran-cbc-news.md) | +12.0% | -0.8% |
| BRENT | 2025-06-13 | [FACTBOX: Oil surges as Israel strikes Iran nuclear sites, traders eye supply risks](https://feedsoft.ai/events/10993-factbox-oil-surges-as-israel-strikes-iran-nuclear-sites-traders-eye-supply-risks.md) | +12.0% | -0.8% |
| BRENT | 2025-06-13 | [OIL FUTURES: Crude surges 6% as Israel launches 'preemptive' strike on Iran \| S&P Global](https://feedsoft.ai/events/11153-oil-futures-crude-surges-6-as-israel-launches-preemptive-strike-on-iran-s-and-p.md) | +12.0% | -0.8% |
| WTI | 2026-03-02 | [Diesel and Gasoline Prices Rise on Iran Strikes - TT](https://feedsoft.ai/events/8776-diesel-and-gasoline-prices-rise-on-iran-strikes-tt.md) | +35.6% | +50.4% |
| WTI | 2025-06-13 | [Oil prices surge after Israel's strike on Iran \| CBC News](https://feedsoft.ai/events/10997-oil-prices-surge-after-israel-s-strike-on-iran-cbc-news.md) | +10.2% | +1.1% |
| WTI | 2025-06-13 | [FACTBOX: Oil surges as Israel strikes Iran nuclear sites, traders eye supply risks](https://feedsoft.ai/events/10993-factbox-oil-surges-as-israel-strikes-iran-nuclear-sites-traders-eye-supply-risks.md) | +10.2% | +1.1% |

## Sources

- ng.investing.com: https://ng.investing.com/news/commodities-news/european-gas-surges-as-us-strikes-irans-qeshm-island-2777239

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.