Gas market watchers warn that prices could spike sharply if the Gaza conflict escalates and draws in Iran. A prominent industry executive suggested that prices might reach as high as 500 euros per megawatt-hour, a scenario tied to broader Middle East tensions and potential disruptions to energy flows. The warning came during remarks at an economic forum in Athens, where regional risk is being weighed against global energy demand and supply chains.
The discussion highlighted the possibility that Iran could influence key choke points in global oil and gas transport. Iran has previously asserted influence over the Strait of Hormuz, a vital corridor for energy shipments, and analysts note that control of such routes can have outsized effects on prices. Observers point out that a substantial portion of the world liquefied natural gas trade passes through strategic maritime lanes, meaning any disruption could have ripple effects across European and world markets.
Industry experts emphasized the unpredictability of the Gaza situation compared with other conflicts, noting that volatility in the region can be harder to forecast and manage. Tensions in the Middle East are widely viewed as a factor that would weigh on European and global economies, as energy markets adjust to changing risk perceptions and potential supply constraints. Prominent economists have voiced concerns about lasting consequences if hostilities intensify, suggesting that ongoing violence could support higher prices for oil and gas, fueling inflationary pressures.
In related analysis, Bloomberg identified potential strategies to ease Europe’s gas stress, underscoring the importance of diversification, storage, and regional cooperation. Market commentators also reflected on Russia’s role in European gas dynamics, weighing its influence against other supply sources and the need for resilient energy policies in the face of geopolitical uncertainty.