European gas prices surge 40% in October, top €100/MWh on Iran strike threat

European natural gas prices jumped 40% in October, exceeding €100 per MWh, driven by the threat of new US attacks on Iran. The price spike reflects heightened geopolitical risk premium in energy markets, with potential supply disruptions from the Strait of Hormuz. Uncertainty remains over the actual scale of any US military action and its impact on LNG flows.

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