# European gas logs 12% weekly surge as U.S.-Iran diplomatic hopes collapse

> European wholesale gas prices rose over 12% on the week, with the Dutch TTF front-month up 4.2% to 96.18 EUR/MWh and NBP up 3.8%. The rally followed Trump's statement that Washington no longer needed a deal with Tehran, along with fresh military strikes in the Persian Gulf.

- Date: 2026-11-13 · published 2026-11-13T12:10:42.778Z
- Category: geopolitics · region Europe · magnitude high
- Page: https://feedsoft.ai/events/97677-european-gas-logs-12-weekly-surge-as-u-s-iran-diplomatic-hopes-collapse
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [Urea](https://feedsoft.ai/c/UREA.md)

## Why it matters

Lost Gulf LNG supply and a scramble for winter gas push up European gas costs, which raises nitrogen fertilizer production costs and supports fuel and feed-processing costs. Prices are likely to stay firm while the geopolitical risk persists.

## Read by commodity

- UREA: bullish ▲
- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2024-10-29 | [TTF prices surge to their highest level \| European Gas Hub](https://feedsoft.ai/events/8118-ttf-prices-surge-to-their-highest-level-european-gas-hub.md) | -10.5% | +41.4% |
| NATGAS | 2026-09-09 | [European Natural Gas Prices Surge as Middle East Attacks Choke LNG Shipments - WSJ](https://feedsoft.ai/events/17648-european-natural-gas-prices-surge-as-middle-east-attacks-choke-lng-shipments-wsj.md) | +1.3% | +5.6% |
| NATGAS | 2024-06-03 | [European Gas Surges as Norway Fault Exposes Supply Fragility - Bloomberg](https://feedsoft.ai/events/7810-european-gas-surges-as-norway-fault-exposes-supply-fragility-bloomberg.md) | +24.9% | +9.1% |
| NATGAS | 2022-07-29 | [European Natural Gas, Asian LNG Prices Soar on NS1 Supply Cuts](https://feedsoft.ai/events/40665-european-natural-gas-asian-lng-prices-soar-on-ns1-supply-cuts.md) | -2.1% | +11.7% |
| NATGAS | 2026-10-29 | [The Commodities Feed: European gas tops EUR100 as supply fears grow \| ING THINK](https://feedsoft.ai/events/261-the-commodities-feed-european-gas-tops-eur100-as-supply-fears-grow-ing-think.md) | -1.8% | — |
| UREA | 2026-03-09 | [European nitrogen market rallies on gas price hike, Iran conflicts \| S&P Global](https://feedsoft.ai/events/20464-european-nitrogen-market-rallies-on-gas-price-hike-iran-conflicts-s-and-p-global.md) | +3.4% | +21.0% |
| UREA | 2026-10-26 | [Natural-Gas Prices in Europe Climb to Highest Level Since 2022 Amid Iran War - WSJ](https://feedsoft.ai/events/622-natural-gas-prices-in-europe-climb-to-highest-level-since-2022-amid-iran-war-wsj.md) | +0.0% | — |
| UREA | 2022-07-29 | [Gas supply issues in Europe cause havoc with Nitrogen prices.](https://feedsoft.ai/events/5032-gas-supply-issues-in-europe-cause-havoc-with-nitrogen-prices.md) | +17.6% | +13.4% |

## Sources

- investing.com: https://www.investing.com/news/commodities-news/european-gas-logs-12-weekly-surge-as-usiran-diplomatic-hopes-collapse-5024311

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