European natural gas prices muted with outlook for Hormuz reopening push unclear in General Energy News 06/05/2026 European natural gas prices oscillated around the flatline on Tuesday, as investors searched for clarity around the status of tanker traffic routes through the Strait of Hormuz. By 06:08 ET (10:08 GMT), the benchmark Dutch TTF Natural Gas Futures was up 0.1% at 48.195 euros per megawatt hour, according to ICE data. Traders were noting indications that a U.S. operation to escort some ships through the strait may be loosening Iran’s stranglehold over the area. In particular, a statement from shipping giant Maersk said a U.S.-flagged vehicle carrier operated by one of its subsidiaries had exited the Gulf via the waterway with the assistance of American military support. But it was far from clear whether the U.S. effort was leading to a sustained reopening of the strait, a conduit for roughly a fifth of the world’s oil and liquefied natural gas which has been effectively shuttered during the more than two-month old Iran war. U.S. and Iranian forces launched fresh attacks in the Gulf on Monday as both sides sought to assert control over the strategic waterway. The flare-up rattled an already shaky ceasefire and heightened fears of prolonged supply disruption. Tensions ratcheted up further after Iranian strikes reportedly targeted infrastructure in the United Arab Emirates, including an oil terminal in the port city of Fujairah. The British natural gas June contract was last higher by 5.99 pence at 118.09 pence per therm. Gas demand in Britain is anticipated to increase due to a downturn in wind power output, Reuters reported, citing LSEG data. Elsewhere, the benchmark contract for the European carbon market was higher by 0.15 euro at 73.94 euros a metric ton. Source: Investing.com 2026-05-06 hellenicshippingnews... tweet Share