Amman, April 29 (Petra) -- Wholesale natural gas prices in the Netherlands and the United Kingdom jumped by more than 5 percent on Wednesday, following reports that the United States intends to maintain its blockade of Iranian ports and a stern warning from Tehran of "unprecedented military action."

Data from the Intercontinental Exchange (ICE) showed the Dutch TTF front-month contract, the European benchmark, rose 5.35 percent to 45.93 euros per megawatt-hour. The spike reflects growing anxiety across European energy markets over the potential for a severe disruption to global supply chains as tensions between Washington and Tehran escalate.

In Britain, the equivalent front-month contract surged 5.16 percent to 114.00 pence per therm. Analysts suggest the market is pricing in the risk of a wider maritime conflict that could threaten the flow of liquefied natural gas and other energy commodities through critical transit corridors.

The price rally was triggered by media reports indicating that the U.S. administration will continue to restrict access to Iranian ports and maintain the detention of vessels linked to the Islamic Republic. In response, Tehran warned that further seizure of its ships would be met with military force, heightening fears of a confrontation in the Strait of Hormuz.

Global energy markets have remained highly sensitive to geopolitical developments in the Middle East since the outbreak of major regional hostilities earlier this year. Traders are closely monitoring the situation for signs of any physical supply disruptions, which could drive prices even higher as Europe looks to secure its energy needs ahead of the next winter season.

The current volatility underscores the fragility of European energy security, which has faced successive shocks over the past three years. Market participants expressed concern that any sustained military flare-up would not only impact gas prices but also cause a ripple effect across global oil and electricity markets.

//Petra// AF

29/04/2026 22:15:28