Europe gas holds firm as U.S.-Iran airstrikes drag on in General Energy News 12/06/2026 Dutch natural gas contracts remained stuck at the 50 euro mark on Thursday as the conflict between the U.S. and Iran entered a second day, with little sign of a diplomatic breakthrough and traders continuing to assess the risks to global energy supplies. The benchmark ICE Dutch TTF Natural Gas Futures was steady at 50 euros per megawatt hour (MWh), data from the Intercontinental Exchange showed. British Natural Gas Futures was also flat at 121 pence per therm. Europe’s pivot from Russian pipeline gas to global LNG has merely traded one geopolitical vulnerability for another. With the critical Strait of Hormuz now largely choked off by blockades, the prospect of a prolonged war threatens to spark an aggressive summer bidding war for alternative cargoes right as the continent scrambles to replenish its lagging storage reserves, which sit roughly 43% full, according to Reuters. Complicating this supply shock is a European Central Bank, which is widely poised to hike interest rates by 25 basis points later in the day – a move intended to curb the war-fueled inflation surge but one that risks crushing European industrial gas demand and plunging a contracting eurozone economy into a deeper winter recession. Source: Investing.com 2026-06-12 hellenicshippingnews... tweet Share